Finance Minister Nirmala Sitharaman on Saturday appreciates the state-run banks for becoming profiteering. According to the union Finance Minister, the net profit of public sector banks has almost tripled to ₹1.04 lakh crore in fiscal 2022-23. "The Non-Performing Assets of the Indian banks is estimated to reduce further to a decadal low of 3.8% by end of FY 2023-24," Sitharaman …
Moody’s Investors Service on Thursday changed the outlook for Indian banking system to negative from stable, as it expects deterioration in banks’ asset quality due to disruption in economic activity from the Coronavirus outbreak. Disruptions to economic activity from the coronavirus outbreak will exacerbate a slowdown in India’s economic growth,” Moody’s said. “Growing solvency stress among non-bank financial institutions will …
