Economic development of any nation depends on its efficient financial operations of the banking networks. Indian banking sector facing severe NPA issues. In order to overcome this problem, Government of India started merging activities. Some major mergers took place in recent years which made the Indian Banking Sector effective, innovative and competitive in the global level. Public sector banks which left as an independent public sector bank after merging process conducted by government of India in the last few years are taken as a sample for the study. The purpose of this article is to determine the financial factors affecting the performance of public sector banks in India. This article analyzed the financial data of six independent public sector banks for the period of four years from 2017-18 to 2020-21. For analysis purpose, used secondary data from various financial websites and only quantitative data is considered and ratio analysis and descriptive statistics are used for analysis purpose. The present study has examined the financial performance in the public sector banks which has a significant result in terms of Net Profit Margin, Return on Net Worth, Operating Expense / Total Income and Capital Adequacy Ratios Bank of India performed better. Central Bank of India functioned well in getting significant long term returns and all selected sample banks shown negative outcome in the relation of Net Profit / Total Funds. Bank of Maharashtra revealed its inefficiency in maintaining negative loan turnover ratio, while Central Bank of India more efficient bank which has Positive Loan turnover ratio. Outperformed Punjab and Sind Bank in terms of Total Assets Turnover Ratio, Advances / Loans Funds and Earnings Per Share. All selected six sample Banks has less than one (<1) Current ratio in shown inefficient in making its dues in a time. Punjab and Sind bank and UCO Bank used its huge amount of interest earned income for making payment of Interest expenses. From the study it is clear that there is a need to improve the overall profitable performance of selected sample of public sector banks by the government which is in need for its survival.