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- Profitability of Indian banks has improved for the sixth consecutive year in 2023-24.
- As per a report released by RBI, the non-performing assets (NPAs) have declined to a 13-year low of 2.7 per cent.
- The financial position of Indian banks has stayed robust with the sustained expansion in loans and deposits.
- India’s macro fundamentals have boosted the performance and soundness of the banking and non-banking financial sectors.
- The gross non-performing assets (GNPA) ratio has fallen to its lowest of 13 years at 2.7 per cent in March 2024 and 2.5 per cent in September 2024.
- In 2023-24, the asset quality of non-bank finance companies (NBFCs) has also improved.
- Strong credit expansion by NBFCs has further strengthened their balance sheets.
- The net profit of the scheduled commercial banks increased by 32.8 per cent to 3 lakh 49 thousand 603 crore rupees.
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