India's banking sector net profit crosses ₹3 lakh crore for first time

India's banking sector net profit crossed ₹3 lakh crore for the first time in FY24. To put things in perspective, ₹3 lakh crore is approximately total quarterly profits of all listed companies in the first three quarters of the fiscal. "This improvement in the banks' health will help improve credit availability to poor, farmers and MSMEs," PM Narendra Modi said.