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Indian banks’ net non-performing assets at 15-year low

“Indian banks’ net non-performing assets at 15-year low”, First Post, June 20, 2023:

“India not only remains the fastest growing economy in the world amid recession and slowdown across most of the advanced economies, but the net non-performing assets of its banks, private and public, have also dropped to a 15-year low in FY23.

According to India Ratings and Research, an affiliate of the Fitch group, “Banks are seeing the best-ever asset quality in the past 10 years. A collation of the banks’ FY23 data indicates that their asset quality has improved substantially in line with the agency’s articulation in its various credit outlooks in the past two-three years.

At a system level, the gross non-performing advances (GNPAs) and net non-performing advances (NNPAs) are at 4.0% and 1.0%, respectively.” The last time NNPAs were at 1.0% was back in 2008…..”

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