For Indian Banks, Bad Loans To Fall To Decade Low By March 2024
NDTV
The key indicator of banks' asset quality is likely to improve, "riding on post-pandemic economic recovery and higher credit growth," the agency said in a statement.
The banks are likely to see a 90 basis points fall in gross non-performing assets (NPAs) to 5% in this fiscal year to March and further improve to 4% by end of March 2024, rating agency Crisil said on Wednesday.
The key indicator of banks' asset quality is likely to improve, "riding on post-pandemic economic recovery and higher credit growth," the agency said in a statement.
Loans of banks jumped 15.5% in the two weeks to Aug. 26 from a year earlier, while deposits rose 9.5%, latest Reserve Bank of India data showed.
The asset quality of the banking sector will also benefit from the proposed sale of NPAs to the National Asset Reconstruction Company Ltd (NARCL), the agency said.
