27/06/2021
Much of these profits are coming from a common person's helplessness rendering the situation where poor becomes poorer and rich becomes richer. That is why they say taking money on money is bad. The banks made money hand over fist in the economy battered by the pandemic.
The banking sector has recorded its highest ever profits of Rs 1,02,252 crore in FY21, a year when the economy was battered by the pandemic. This is a significant turnaround compared to a net loss of nearly Rs 5,000 crore for the industry in FY19.
