Public sector banks (PSBs) are on track to post a record combined profit exceeding Rs 2 lakh crore in the current financial year, Financial Services Secretary M Nagaraju said, expressing confidence in the sector’s improving financial strength and resilience. Speaking to PTI, Nagaraju emphasised that the broader Indian banking system remains robust, supported by steady credit expansion and healthy deposit mobilisation. Credit growth at PSBs is running at about 12 per cent this year, which he described as tremendously “good”, while deposit growth of around 10 per cent is also reasonably very good.