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Public Sector banks shut down 2,044 branches in FY22

Published on July 03, 2022
Current Context: Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 compared to earlier.
Public Sector banks shut down 2,044 branches in FY22
  • As per the report, The number of branches of private banks went up by 4,023 to 34,342 branches in 2022 as compared to 2021.
  • Besides Public sector banks reduced to 86,221 in FY22.
  • The Net Profits of the government banks in FY22 went up to Rs 689.79 billion, compared to Rs 331.77 billion in FY21.
  • Public Sector banks in FY21, had faced many challenges relating to non-performing assets, subsequent rationalization of branches, and staff retirements.
  • All India Bank Employees Association is a unique trade union organisation in the comity of trade unions in the financial sector in particular and middle-class organizations in general.

Question:

Q.1 As per the AIBEA report PSB has seen a reduction in how many branches in 2022?
a. 3055 branches
b. 2044 branches
c. 1152 branches
d. 1022 branches
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