December 31, 2024 1:07 PM

Gross NPA ratio of India’s banks falls to 12-year low of 2.6%

India’s banking sector has witnessed continued improvement in asset quality, with the gross non-performing assets (GNPA) ratio dropping to 2.6% of total advances in September 2024, marking the lowest level in the past 12 years, according to the Reserve Bank of India’s (RBI) latest Financial Stability Report. The net NPA ratio stood at approximately 0.6%, as stated in the RBI’s December 2024 issue of the Financial Stability Report (FSR). “Fueled by declining slippages, higher write-offs...