The Reserve Bank of India's latest Trend and Progress of Banking report highlights the banking sector's impressive performance in 2023-24.
- SCBs saw robust credit growth, a CRAR of 16.8%, and record-low GNPA ratios of 2.7% (March 2024) and 2.5% (September 2024).
- Banks' profitability rose for the 6th consecutive year, with RoA at 1.4% and RoE at 14.6%.
- Urban Co-operative Banks expanded their balance sheets, improved asset quality, and fortified capital buffers.
- NBFCs achieved double-digit credit growth, improved asset quality (GNPA at 3.4%), and maintained strong CRAR.
- RBI’s oversight ensures resilience and stability in India's evolving financial landscape.
With profitability soaring, RBI hopes to maintain progress across India's financial landscape.
