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.
As per reports, nearly 15 subsidiaries and joint ventures of PSBs are being evaluated for potential initial public offerings (IPOs) or stake dilution in the coming years.
Uttar Pradesh Finance Minister Suresh Kumar Khanna, while advising public sector banks, said that they should not skimp in giving loans to meet the target of one trillion dollar economy of the state.
The Reserve Bank of India held a conference for the directors on the Boards of Public Sector Banks. The conference was held in New Delhi on Monday.
The scheme enrolled more than 1.19 crore new subscribers in 2022-23 as compared to 99 lakh in the last financial year, depicting a growth of more than 20 per cent.
The report, titled ‘Coronavirus fallout will leave banks with capital shortages again’ predicted that asset quality will deteriorate, led by retail and small business loans.
With today's announcement, post consolidation, India will have 12 Public Sector Banks from 27 Public Sector Banks.
The survey also credited its positive projections on the political stability ensured by a singleparty majority government at the Centre.
India’s micro units, in particular, have a critical role to play in keeping the country going, employing millions and literally providing the backbone to what is the world’s sixth-largest economy (nominal GDP).
IBPS 2018: Candidates can check the notification on the official website- ibps.in. Candidates should note that the clerk recruitment will start today.
