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The Daily Brief
Are PSU Banks Making A Comeback?
Dec 16, 2024
Public sector banks in India are experiencing a remarkable turnaround. With decreasing non-performing assets and government reforms, their stability is improving significantly. The discussion also dives into a major energy deal between India and Russia, hinting at a strategic shift in the energy landscape. Meanwhile, there's a look at the risks associated with the surge in unsecured retail lending. The insights paint a picture of a dynamic financial and geopolitical environment shaping the future.
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Quick takeaways
- Public sector banks in India are witnessing a remarkable recovery with a significant reduction in non-performing assets, emphasizing effective reforms post-crisis.
- Reliance Industries' new oil deal with Russia highlights India's strategic shift in energy sourcing amidst global geopolitical challenges and sanctions.
Deep dives
Public Sector Banks Show Improvement
Public sector banks in India are demonstrating a significant turnaround in their asset quality over the last decade. The amount of non-performing assets (NPAs) being written off has steadily decreased, contributing to improved financial stability within these banks. For instance, the write-off figure for the first half of FY25 was reported at 42,000 crores, down from over 1 lakh crores in preceding years. Enhanced recovery efforts have also yielded impressive results, with around 70% of the bad debt since FY20 being recovered, reflecting a proactive approach to managing loan defaults.
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Discover
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