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 Lucknow.
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 Lucknow.
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
South steals the spotlight
Hits from Hindi film industry in post-Covid era have been fewer and far between
Smart Cities Mission: School enrolment up 22%
STEPS TAKEN UNDER the Smart Cities Mission have led to a 22% increase in school enrolment in 19 cities and improved real-time tracking of criminal activities, according to two studies by the Indian Institute of Management, Bangalore.
Does India want BGT win or Rohit back in form?
In case openers KL Rahul or Yashasvi Jaiswal had been struggling, Rohit's elevation would have made sense. But with his form, the change of batting order wasn't really warranted
UltraTech to buy stake in Star Cement
Both the players are snapping up small cement players to consolidate their positions and achieve their targeted growth ahead of time.
Byju Raveendran: From boom to bust
BY EARLY 2024, these issues culminated in severe consequences. US-based lenders initiated bankruptcy proceedings against Byju's to recover outstanding loans, and back home, the ministry of corporate affairs launched investigations into its financial practices.
Oil rises 1%, heads for weekly gain
Oil rose about 1% on Friday and was set for a weekly gain in low trading volume ahead of year-end, backed by expectations of lower US crude stockpiles and hopes of a stimulus-driven economic recovery in China.
IIFL Home Finance expects 15% AUM growth in FY25
● Looking at stock market listing, but no timeline yet
Jewellery units lose sheen on weak Rupee
THE DEMAND IN east Asia, however, has been tepid.
Squid Game stocks tank
A LESS-THAN-PERFECT
Russia warns Trump against resumption of nuclear testing
RUSSIA'S POINT MAN for arms control cautioned Donald Trump's incoming administration on Friday against resuming nuclear testing, saying Moscow would keep its own options open amid what he said was Washington's \"extremely hostile\" stance.
