New Delhi [India], September 21 (ANI) Gross non-performing assets (GNPAs) of banks are likely to decline by 90 basis points (bps) to 5 per cent this year and further improve to a decadal low of 4 per cent by March 31 next year, pushed by post-pandemic economic recovery and higher credit growth, said rating agency Crisil on Wednesday.

Mumbai [India], December 28 (ANI): The consolidated balance sheet of scheduled commercial banks expanded in size during 2020-21 despite the contraction in economic activity due to the COVID-19 pandemic, according to 'Report on Trend and Progress of Banking in India 2020-21' released by the Reserve Bank of India (RBI) on Tuesday.

New Delhi Nov 18 PTI Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders leaving them with no option but to return to the country Speaking at a symposium on credit flow and economic growth he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest In our attempt to bring back fugitive economic offenders we relied on policies and law and also used diplomatic channels The message is very clear -- return to your country We are continuing these efforts he said He however did not name or refer to any particular offender India has in recent times stepped up efforts to extradite high-profile economic offenders such as Vijay Mallya and Nirav Modi wanted in connection with bank frauds and money laundering cases While Rs 5 lakh crore has been recovered from defaulters through proactive steps the recently set up National Asset Reconstruction Company NARCL would help resolve Rs 2 lakh crore of stressed assets the Prime Minister said He also said the financial health of banks is now in a much-improved condition as his government has since 2014 found ways to address the problems they faced Indian banks are strong enough to play a major role in imparting fresh energy to the countrys economy for giving a big push and making India self-reliant This is a time for you to support wealth creators and job creators It is the need of the hour that now the banks of India work proactively to bolster the wealth sheet of the country along with their balance sheets he asserted Banks Modi said need to shed the culture of they being an approver and the customer being an applicant and adopt the model of partnership When the country is working so hard on financial inclusion it is very important to unlock the productive potential of the citizens he said Modi further said the reforms initiated by the government in the banking sector in the last six-seven years supported the banking sector in every way due to which the sector is in a very strong position today We addressed the problem of NPAs recapitalised banks and increased their strength We brought reforms like Insolvency and Bankruptcy Code IBC reformed many laws and empowered Debt Recovery Tribunal he said Modi also nudged bankers to offer customised solutions to businesses and micro small and medium enterprises MSMEs Dont wait for customers to come to banks You have to go to them he said while assuring bankers that he will stand by them like a wall for every honest decision they take Asking banks to move ahead with a big thinking and innovative approach Modi said we will become laggards if we delay adopting Fintech Setting a target for banks he said by August 15 2022 every bank branch should have at least 100 clients who conduct the entire business digitally Banking sector has to understand this that in India it is time for investing in ideas It is time to support startups Startup is an idea there is no asset it is just an idea You banks have no dearth of resources data The government will continue to do reforms and you banks have moved forward along with the nations commitment and target he said The Prime Minister said steps taken in the recent years have created a strong capital base for the banks Banks have sufficient liquidity and no backlog for provisioning of bad loans while non-performing assets NPAs in public sector banks are at the lowest in the last five years This has led to the upgrading of the outlook for the Indian banks by international agencies he pointed out The Prime Minister emphasised on the need to proactively serve the customers and asked banks to provide customised solutions to customers companies and MSMEs after analysing their needs He also praised the banking sector for its enthusiasm in implementing the Jan Dhan Scheme The Prime Minister said banks should proactively get involved in the growth story He gave the example of the Production Linked Incentive PLI scheme where the government is doing the same by giving Indian manufacturers an incentive on production Under the PLI scheme manufacturers have been incentivised to increase their capacity manifold and transform themselves into global companies Banks can play a big role in making projects viable through their support and expertise said Modi Reforms in last six-seven years have led to the banking sector in a strong position today We have addressed non-performing assets NPAs of banks recapitalised banks brought bankruptcy laws and strengthened debt recovery tribunal Modi added He said with consolidation among public sector lenders they are able to raise funds from market With the reforms banks have a huge and strong capital base good liquidity and no NPA backlog You are the main stakeholder in nation-building Banks can play a big role in boosting the economy and making India aatmanirbhar the Prime Minister added PTI JD CS ANZ ABM ABM