Indian banks and non-bank lenders need to further fortify their balance sheets by following stronger governance and risk-management practices, the Reserve Bank of India (RBI) said in a report released on Wednesday, even as it lauded the industry’s performance across multiple metrics. These measures would help cater to growing aspirations of the Indian economy, the Report on Trends and Progress of Banking in India said.
"The Indian banking system is well positioned to improve further, with better asset quality, high capital adequacy and robust profitability. The financial indicators of non-banking financial companies (NBFCs) are also set to strengthen further, underpinned by adequate capital, increased provisions and improved asset quality," it added.
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