New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which two Public Sector banks declared losses in FY21?

    A Central Bank and Punjab & Sind Bank Correct Answer Incorrect Answer
    B Central Bank and Bank of Maharashtra Correct Answer Incorrect Answer
    C Union Bank of India and Punjab & Sind Bank Correct Answer Incorrect Answer
    D Central Bank and Union Bank of India Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Public sector banks more than quadrupled their net profit in the FY 2021-2022. During the FY 2021-22, the aggregate profit of 12 state-owned banks was Rs 66,539 crore, up 110% from Rs 31,816 crore in the previous year. Only two PSBs (Central Bank and Punjab & Sind Bank) declared losses in FY21, dragging down the overall net profit.  

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