BANKS' ASSET QUALITY has improved, with their gross non-performing assets ratio (GNPA) hitting a 13-year low of 2.5% at end of September, from 2.7% at end-March, driven by higher recoveries and lower slippages, according to the Reserve Bank of India's (RBI) latest report on trend and progress of banking in India.
During 2023-24, banks' consolidated balance sheet expanded at a healthy pace with robust deposit and credit growth.
"The improvement in the asset quality of banks, measured by their GNPA ratios, commenced in 2018-19. GNPAs of SCBs reduced by 15.9% YoY to ₹4.8 lakh crore as on March 31, 2024," said the report. "The GNPA ratio declined to 2.7% at end-March 2024, the lowest in 13 years, from 3.9% at end-March 2023."
During 2023-24, around 44.4% of the reduction in GNPAs was attributable to better recoveries and upgradations, noted the report.
This story is from the December 27, 2024 edition of Financial Express Kochi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 27, 2024 edition of Financial Express Kochi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Chinese Dam on Table for Sullivan's India Visit
AI, civilian nuclear cooperation, space may also be taken up
Microsoft to spend $80 billion on AI data centers this year
MICROSOFT CORP PLANS to spend $80 billion this fiscal year building out data centers, underscoring the intense capital requirements of artificial intelligence.
Mike Johnson Re-elected US House Speaker
REPUBLICAN CONGRESSMAN Mike Johnson on Friday was re-elected as Speaker of the US House of Representatives with a narrow victory margin of three votes.
S Korea investigators ask acting prez to clear way for Yoon's arrest
SOUTH KOREAN INVESTIGATORS again asked the country's acting president on Saturday to order the presidential security service to comply with an arrest warrant for impeached President Yoon Suk Yeol.
No jail time for Trump, suggests judge in US hush money case
Will keep fighting, says communications director Cheung
Rohit clears the air: Not going anywhere
Says those on outside can't influence when he stops playing
Border-Gavaskar Trophy: As Bumrah leaves, 'captain' Kohli calls the shots
Kohli took charge after Bumrah left bowling due to spasm
Worrying signs from the Arctic
Scientists say fires in the region could have major consequences
Introspection needed in the media
attention is paid to these two things that we seem never to get to the issues that really affect ordinary people like healthcare, education, pollution and the horrendous conditions in which most Indians are forced to live.
Dr Manmohan Singh, RIP
Few people realise that without Dr Manmohan Singh's unequivocal support the major signature programmes of the UPA could not have been launched or implemented
