Profitability of public sector banks has improved on a consolidated basis after amalgamation, the government said in Parliament on Tuesday. According to RBI’s data, profitability of public sector banks (PSBs) that have been amalgamated/merged during the last five years has improved on a consolidated basis, Minister of State for Finance Bhagwat Karad said in a written reply to the Rajya Sabha. The profitability of State Bank of India (SBI), into which five associate banks of SBI and Bhartiya Mahila Bank were merged with effect from April 1, 2017, improved from a loss of Rs 1,378.35 crore in financial year 2016-17 to a profit of Rs 20,410.47 crore in 2020-21, Karad said. Likewise, Bank of…
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