Content:

1. Public Sector Banks – A Resurgent Force
2. Prime Minister pays tributes to Sardar Vallabhbhai Patel on his death anniversary

Public Sector Banks – A Resurgent Force

A public sector bank (PSB) is a bank that is owned by the government, either directly or through other government agencies or corporate bodies. The government holds a majority stake in the bank, usually more than 50%. 

Relevance : GS 3 (Economy )

Financial Performance

• Net Profit Milestone:PSBs recorded the highest-ever net profit of ₹1.41 lakh crore in FY 2023-24.Achieved ₹85,520 crore net profit in H1 2024-25.

• Dividend Contribution:₹61,964 crore distributed as dividends over the last three years.

• Improved Asset Quality:GNPA ratio reduced to 3.12% in September 2024 from 14.58% in March 2018.

Resilience Indicators

• Capital Strength:CRAR rose to 15.43% (September 2024), exceeding RBI’s 11.5% requirement.

• 4R Strategy:Recognition, Resolution, Recapitalisation, and Reform addressed NPA challenges effectively.

Financial Inclusion Achievements

• Key Statistics:54 crore Jan Dhan accounts and 52 crore collateral-free loans sanctioned under flagship schemes.Bank branches increased to 1,60,501 in September 2024, with 1,00,686 in rural and semi-urban areas.

• MSME Support:Advances grew at a CAGR of 15% over three years, reaching ₹28.04 lakh crore (March 2024).

• Kisan Credit Cards:7.71 crore active accounts with ₹9.88 lakh crore outstanding credit (September 2024).

EASE Framework

• Focus on governance, risk management, technology, and customer-centric reforms.
  • Enhanced Access & Service Excellence (EASE) initiatives helped institutionalise reforms and improve banking services.

Prime Minister Pays Tributes to Sardar Vallabhbhai Patel on His Death Anniversary

The Prime Minister paid tributes to Sardar Vallabhbhai Patel on his death anniversary yesterday. He remarked that Shri Patel’s personality and work will continue to be an inspiration for the citizens for the unity, integrity of the nation and the achievement of the resolution of a developed India.

Relevance : GS 1(Modern History )

Sardar Vallabhbhai Patel

Early Life and Education

• Born: October 31, 1875, Nadiad, Gujarat.
• Parents: Jhaverbhai Patel and Ladba Patel.
• Became a successful barrister after completing law at the Middle Temple, England (age 36).

Early Political Career

• 1917: Joined as Sanitation Commissioner of Ahmedabad.
• 1924-1928: Chairman, Ahmedabad Municipal Committee; implemented reforms in sanitation, urban planning, and water supply.
• 1917: Secretary of Gujarat Sabha; supported Gandhi’s campaigns.
• 1931: President, Karachi Session of INC; resolutions on Fundamental Rights and National Economic Program passed.

Role in Indian National Movement

• Kheda Satyagraha (1918):
  • Secured exemption from land revenue due to crop failure.
  • Outcome: Relief granted after three months of agitation.

• Non-Cooperation Movement (1920):
  • Gave up legal practice to boycott British goods and promote Swadeshi.

• Bardoli Satyagraha (1928):
  • Protested against unjust revenue hike; successfully negotiated rollback.
  • Earned the title “Sardar” from the women of Bardoli.

• Quit India Movement (1942):
  • Supported INC’s resolution; arrested and imprisoned at Ahmednagar Fort.

Contributions to Post-Independence India

• Integration of Princely States:
  • Successfully integrated over 562 princely states.
  • Key efforts in Hyderabad, Junagadh, and Kashmir.
  • Prevented the Balkanization of India; earned the title “Iron Man of India.”

• Father of All India Services:
  • Established the All India Services (IAS, IPS, etc.).
  • Described as the “Steel Frame” for India’s administrative unity.

Death and Legacy

• Died: December 15, 1950.
• Legacy:
  • Statue of Unity (2018): World’s tallest statue in his honor.
  • Symbol of national integrity, unity, and leadership