In a post on X, Sitharaman said India's banking sector turned around due to Prime Minister Narendra Modi's strong and decisive leadership, and recently achieved a significant milestone by recording its highest-ever net profit of over ₹3 lakh crore. "During FY 2023-24, public sector banks recorded the highest-ever aggregate net profit of ₹1.41 lakh crore, almost 4 times higher than ₹36,270 crore in FY 2014," she noted, adding that the government has turned banks from being "NPA-laden nightmares" into "pillars of jan kalyan".
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