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RBI’s Analysis Report on Trend and Progress of Banking in India 2022-23

RBI’s Analysis Report on Trend and Progress of Banking in India 2022-23
  • The annual performance report of the Indian banking sector, compliant with Section 36(2) of the Banking Regulation Act, 1949, presents a comprehensive analysis of the sector’s achievements and challenges. It encompasses cooperative banks and Non-Banking Financial Companies (NBFCs), providing insights into their contributions to the country’s economic framework.
  • SCBs have experienced significant growth, with their combined balance sheets expanding by 12.2% in the fiscal year 2022-23, marking a nine-year high. This growth is attributed mainly to credit expansion in the retail and services sectors.
  •  Additionally, SCBs have strengthened their capital buffers and asset quality, with the Gross Non-Performing Assets (GNPA) ratio reaching a ten-year low of 3.9% by March 2023 and further dropping to 3.2% by September 2023. Remarkably, no bank was under the prompt corrective action (PCA) framework by March 2023, indicating improved health of the banking sector.
  • NBFCs have shown remarkable growth and improvement in asset quality, with their combined balance sheets growing by 14.8% in 2022-23. The sector has witnessed a significant credit expansion, particularly in unsecured loans, micro-finance, and MSME loans. The Gross Non-Performing Assets (GNPA) ratio for NBFCs declined to 4.1%, showcasing an improvement in asset quality.

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Published date : 09 Feb 2024 04:47PM

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