BANKING

Banks in India saw a fall in loan loss provisioning for the fifth consecutive period, indicating improving asset quality and sustained collection efficiency. Cumulative bad loan provisioning declined by 42.5% to Rs 18,354.4 crore, the lowest since March 2019 quarter, indicating an overall improvement in the country's banking system. The private sector banks' provisioning decreased by 59.4% YoY, while public sector banks' provisioning fell by 37.3%. The country's credit offtake remained robust despite rising interest rates and global uncertainties, with personal loans and NBFCs being the key growth drivers.

from Banking/Finance-Industry-Economic Times https://ift.tt/azTyUMk
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