Banking sector shows strong recovery, asset quality improves: Economic Survey
The Survey noted that the recovery rate in NPAs of Scheduled Commercial Banks (SCBs) rose from 13.2 per cent in FY18 to 26.2 per cent in FY25.
The Survey noted that the recovery rate in NPAs of Scheduled Commercial Banks (SCBs) rose from 13.2 per cent in FY18 to 26.2 per cent in FY25.
In his inspiring address, Mr. Kalyan Kumar spoke in detail about the Bank’s history, future vision, ongoing transformational initiatives, business growth, customer-centric excellence, and the roadmap for achieving targets in retail, agriculture, and MSME lending.
Bharuwa Solutions Pvt Ltd (BSPL) has launched an AI-powered, Multilingual (Bilingual) 360° Banking ERP System.
India’s banking sector is grappling with a significant liquidity crunch, one that threatens not only financial stability but also the broader economy.
It highlighted that the Gross NPA ratio of scheduled commercial banks declined to 2.67 per cent (Rs 4.75 lakh crore) in June 2024 from 4.28 per cent from a peak of 11.18 per cent (Rs 10.36 lakh crore) in March 2018.
Addressing the joint sitting of Parliament, she said “Today, these reforms have made India's banking sector one of the strongest banking sectors in the world.”
Taking to X, the Prime Minister said, “In a remarkable turnaround in the last 10 years, India's banking sector net profit crosses Rs 3 lakh crore for the first time ever.”
Union Minister of State for Finance Bhagwat Karad on Monday urged the need to incorporate 'new voters' into the banking sector by opening their bank accounts.
The All India Bank Employees Association had on Saturday announced that it would observe two day's strike to oppose the move of the Central government.
Some policy changes may be required to rejuvenate the economy, the first being to remove the focus from big business and promote small enterprises, primarily, by reducing their burden of taxation. As of now, the tax structure favours the rich; the rate of taxation on firms and individuals is almost double the corporate tax rate.
