Secretary, Department of Financial Services, M. Nagaraju, chaired a review meeting in New Delhi yesterday to assess the performance and progress of Public Sector Banks across key operational, financial and strategic priorities during the financial year 2025-26.
The Finance Ministry said that the performance of Public Sector Banks across key areas, including business growth, profitability, asset quality, implementation of government schemes, financial inclusion, digital ecosystem, MSME credit flow, cyber resilience and operational risk management, was comprehensively assessed. It highlighted that Public Sector Banks demonstrated strong financial and operational performance during the financial year 2025-26.
Progress under major financial inclusion initiatives, including Pradhan Mantri Jan Dhan Yojana, social security schemes, Pradhan Mantri Mudra Yojana, PM Vishwakarma and digital lending initiatives, was also reviewed.
Deliberations covered strengthening digital banking ecosystems, enhancing cyber security frameworks and improving access to credit for MSMEs and other productive sectors of the economy. The discussions also stressed the need for Public Sector Banks to adopt prudent expenditure and austerity measures at all levels while maintaining resilience amid evolving global uncertainties.
Secretary, Department of Financial Services, M. Nagaraju highlighted the importance of maintaining robust grievance redressal systems, strong governance standards and operational preparedness. He said these measures would ensure that the banking system remains resilient, trusted and aligned with the vision of Viksit Bharat 2047.
The revamped website of the Department of Financial Services was also launched during the meeting. The portal offers enhanced accessibility, seamless navigation and improved dissemination of information in more than 23 regional languages.
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