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WHY INDIA MUST MIND THE CONSUMER CREDIT TRAP
Mint Mumbai
|August 07, 2023
In the last decade, banks loaned more to individuals. But if income growth remains weak, it could open a new stress point
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After more than a decade of turmoil, Indian banks seem finally set to turn a corner. As of March, the gross non-performing assets (NPAs) of banks, or bad loans, had shrunk to 3.9% of total loans in 2022-23, the lowest level since 2014, according to the Financial Stability Report issued by the Reserve Bank of India (RBI) in June.
Indian banks never really recovered from the shock of the global financial crisis
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