At present Indian banking system is growing at rapid pace. For stability in economy of the country, the solvency of banks is primary necessity. To check whether a company is financially healthy or in crisis, Altman Z-score is very useful tool. That’s why this study used modified Altman Z-score i.e. Altman Z′′-score to analyze solvency of selected top five public sector banks for period of five years i.e. 2017-18 to 2021-22. Testing of hypothesis done using descriptive statistics. The research findings shows that during the period of study on an average Bank of India, Canara Bank and Punjab National Bank are in grey zone which shows not high probability of bank’s bankruptcy while Bank of Baroda and State Bank are in distress zone indicating more chances of bankruptcy in future.