Financial Performance of Public Sector Banks in India

Public Sector Banks are major kinds of bank in India; where as greater number of Stake (More than 50%) is detained by a Government.The shares of the Public Sector Banks are listed on stock exchanges.There are 21 Public Sector Banks alongside 1 State owned Payments Bank in India.In India like in almost all the other countries and states in the world, there are two main classes of banks namely the public sector banks and the private sector banks.The Public Sector category consists of banks in which the government of India owns a major part of the stake.Public sector banks have a major impact on the Indian economy because they keep a stronghold thus being formidable forces in the banking sector.Public Sector Banks are controlled and managed by the government of India.Public sector banks have been serving the nation for over centuries and are well known for their affordable and quality services.The banking sector in India is mostly dominated by the Public Sector Banks.The Public Sector Banks in India alone account for 75 percent of the total advances in the Indian Banking Industry.Public Sector Banks have shown remarkable growth over the last five four decades.