The eve of India’s Independence Day 2015, the Government of India announced “Indradhanush” for Indian Public Sector Banks .With this single word, they have tried to paint a beautiful picture which we see in the sky after dark clouds and rains. Public Sector Banks (PSBs) play a vital role in India’s economy. In the past few years though many large projects have stalled but because of a variety of legacy issues, including the delay caused in various approvals as well as land acquisition etc. and also because of low global and domestic demand. It has resulted in lower profitability for PSBs.