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Bad assets of PSBs fell to 3.12% in Sep 2024: Fin Min
Mint Mumbai
|December 13, 2024
The government said on Thursday that policy reforms in the financial sector have restored the health of the banking sector, with the gross non-performing asset (NPA) ratio of public sector banks (PSBs) falling to 3.12% in September 2024 from a peak of 14.58% in March 2018 and 4.97% in March 2015.
The reforms also increased the capital adequacy ratio of PSBs by 396 basis points (bps) to 15.43% in September 2024 from 11.45% in March 2015.
The marked improvement also saw PSBs record their highest-ever aggregate net profit of ₹1.41 trillion in FY24 against ₹1.05 trillion in FY23, the finance ministry said in a statement. The figure for the first half of FY25 was ₹0.86 trillion, it said.
This story is from the December 13, 2024 edition of Mint Mumbai.
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