New Delhi . Now that the last phase of the general elections is remaining, Finance Minister Nirmala Sitharaman has presented before the country the picture of the radical change in the condition of Indian banks during the last 10 years of her government. The Finance Minister has presented in detail with figures about things like relieving Indian banks from the problem of bad loans in the last ten years, strengthening their financial condition, almost four-fold increase in net profit, connecting rural people with bank facilities, launching government schemes according to the interests of the general public through banks. Along with this, she has also criticized the Congress.

'Our government put banks to work for public welfare'

Sitharaman has said that, “The UPA government dominated by family parties used the banks for 'family welfare', while our government used the banks for 'public welfare'. Sitharaman has written a very big article on the Indian banking sector on the social media site X. Earlier, PM Modi had also written on X on the condition of Indian banks.

The condition of banks was very bad in the year 2014

In fact, when Modi formed the government in 2014, the condition of Indian banks was very bad. The figures are testifying to a major improvement in the situation. According to Sitharaman, Congress did nothing to expand Indian banks except nationalizing them. Only the educated people of the society benefited from this.

Before 2014, banking services were mainly limited to cities. Despite 68 years of independence, only 68 percent of the population had access to banking services. But the Modi government brought the banking sector to the common people through the Jan Dhan Yojana and Mudra Yojana. Under the Mudra Yojana, loans worth Rs 28 lakh crore have been distributed to 48 crore people. Today, every citizen of the country has banking facilities within a radius of five kilometers.

Public Sector Banks to earn profit of Rs 1.41 lakh crore in 2023-24

The Finance Minister has said that in the year 2023-24, public sector banks have earned a profit of Rs 1.41 lakh crore, which is four times more than Rs 36,270 crore in the year 2013-14. These banks have given a dividend of Rs 27,830 crore. The level of non-performing assets (NPA) has now come down to just 0.76 percent. In March 2015, it was 3.92 percent. In October 2018, it was at its highest level of 7.97 percent.

Banks gave loans at record level

The loan disbursed by banks has increased by 16 percent last year, which is the highest level till date. The amount of loan disbursed for the agriculture sector has now reached Rs 21.55 lakh crore, which was Rs 8.45 lakh crore ten years ago. The Finance Minister has said, "The economic wheel moves forward only on the basis of the banking sector. We will continue to take decisive decisions regarding the banking sector so that the dream of a developed India can come true by the year 2047."