Collective profit of 12 state-owned banks rises 110% in FY22. Here's what's behind the rise

The PSBs witnessed an increase of 110% in their net profits in FY22. The overall profit accounted for Rs.66,539 crore. This is the first time when such profits have been recorded by PSBs since FY18. The State Bank of India recorded the highest profit that accounted for 47% of the total profits of PSBs.

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