SCBs see a sharp drop in NPA ratio, falling to 2.67% in June 2024 from 11.18% in March 2018: Finance Ministry

Indian banks' bad loans dropped sharply. The NPA ratio fell to 2.67% in June 2024 from 11.18% in March 2018. The coverage ratio increased to 92.52% in June 2024. Public sector banks earned record profits. They earned Rs 1.41 lakh crore in 2023-24. Bank branches expanded significantly, reaching 160,501 by September 2024. Over 100,000 branches serve rural and semi-urban areas.

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