- The Reserve Bank of India released a report titled ‘Trends and Progress of Banking in India’.
- According to the report, the gross non-performing asset (GNPA) ratio of Indian scheduled commercial banks (SCBs) has improved in the second quarter of this financial year.
- According to the report, the consolidated balance sheet of SCBs is expected to grow by 12.2% in 2022-23.
- Improvement in asset quality is measured by the GNPA ratio. SCB's GNPA ratio reached decade low of 3.9% in March 2023.
- Nearly 45% of the reduction in GNPA of SCBs is due to recovery and upgradation.
- The combined balance sheet of urban co-operative banks is expected to increase by 2.3% in 2022-23.
- Consolidated balance sheets of non-banking financial companies to grow by 14.8% in 2022-23.
Tags:
Economics
