FICCI-IBA survey shows improvement in India's banking sector with better asset quality, high credit growth, and decline in NPAs.
An FICCI-IBA survey reveals improvement in India's banking sector, with better asset quality, high credit growth, and a decline in non-performing assets (NPAs) for public sector banks. The survey, including 23 banks representing 77% of the industry, highlights long-term credit demand growth for infrastructure, metals, iron and steel, and food processing sectors. The Indian economy is projected to grow at 7.6% in FY24, supported by investment growth, industrial activity rebound, and a continued push for retail credit.
March 21, 2024
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