The record reduction in bad loan ratio was led by state run banks, which improved by 76 bps to 3.7. While the GNPA stock declined across all bank groups, active and deep provisioning by state-run banks and foreign banks resulted in an improved provisioning coverage ratio in March 2024 to 76.4, the Reserve Bank of India said in the biannual Financial Stability Report.
The report attributed the sustained reduction in the GNPA ratio since March 2020 primarily to a persistent fall in new NPA accretions and increased write-offs.
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