State Bank of India (SBI), the country’s largest lender, has announced record-breaking quarterly and annual profits, with a 24% increase in earnings for the March quarter, reaching Rs 20,698 crore. This figure surpasses the quarterly net profit of Reliance Industries (RIL), making SBI the most profitable firm in India for the quarter. Additionally, SBI’s annual profit peaked at Rs 61,077 crore, marking a significant milestone for the bank. The impressive performance was driven by a notable improvement in asset quality, with gross bad loans declining to a decade-low of 2.24%.