Indian banks' consolidated balance sheet hits double-digit growth in FY22: RBI report

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A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai. Credit: Reuters Photo

The consolidated balance sheet of Indian banks notched double-digit growth in 2021/22, after a gap of seven years, led by credit growth that accelerated to a ten-year high in the first half of the year, the central bank said in a report on Tuesday.

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Banks' gross non-performing asset ratio has been declining sequentially and reached 5 per cent as of end-September, the Reserve Bank of India said in its report on the Trends and Progress of Banking in India.