Trends and Progress of Banking in India 2023-24:
The Reserve Bank of India (RBI) has raised alarms over the increasing reliance on unsecured lending and private credit, calling for enhanced vigilance in its annual Trends and Progress of Banking in India 2023-24 report.GNPAs reached a 13-year low of 2.7% in March 2024, further dropping to 2.5% by September 2024.The Retail Loan Segment had the lowest GNPA ratio at 1.2% in September 2024, while agriculture loans had the highest GNPA ratio at 6.2%. The GNPA ratios for education loans improved significantly, declining from 5.8% in March 2023 to 2.7% by September 2024, though they remain the highest among retail segments.
