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Toxic loans at 10-year low of 3.9%
Hindustan Times
|June 29, 2023
RBI expects NPAs in the banking system to decline further to 3.6% by March 2024
Bad loans in the banking sector have reached their lowest levels in a decade, the Reserve Bank of India (RBI) said in a report released on Wednesday. It also indicated a further decline in toxic assets by March 2024 under its baseline stress test scenario.
According to RBI’s half-yearly financial stability report (FSR), gross bad loans of banks plummeted to 3.9% of total loans, marking their lowest point since 2013. Additionally, net non-performing assets (NPAs) have also fallen to 1% of total loans—the lowest figure since June 2011.
It indicates that banks have been actively setting aside provisions to cover bad loans, RBI added.
“The system-level gross NPAs ratio and net NPAs ratio have sharply fallen from a high of 11.5% and 6.1% in March 2018, respectively…," the report said.
RBI said the improvement in asset quality has been broad-based, with a steady decline in stressed loans ratio across all major sectors.
This story is from the June 29, 2023 edition of Hindustan Times.
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