Finance|Banking — Indian public sector banks' net profit nearly triples in five years to record ₹1.98T

The collective net profit of India's public sector banks (PSBs) reached a record ₹1.98 trillion in FY26, nearly tripling over the past five years from ₹0.67 trillion in FY22. The finance ministry attributed the sharp improvement to better asset quality, with the gross non-performing asset (GNPA) ratio falling to an all-time low of 1.9% as of March 2026. The banks' capital adequacy ratio also strengthened to 16.6% from 14.6% over the same period.