Nirmala Sitharaman: Gross NPAs Of Scheduled Commercial Banks At Multi-year Low Of 2.5% In September

Finance Minister Nirmala Sitharaman, shares update on the health of India's banking sector in Rajya Sabha. She reveals that the gross NPAs (Non-Performing Assets) of scheduled commercial banks have reached a multi-year low of 2.5% in September 2024, a significant achievement since the reforms started in 2014. Additionally, the system level capital to risk-weighted asset ratio (CRER) has risen to 16.7%, well above the regulatory minimum. Public sector banks have also reported their highest-ever net profit of ₹1.41 lakh crores in the previous financial year, with expectations for even greater growth in the coming year. She also talks about the continued progress and success of India's banking system under the leadership of Prime Minister Modi.