Team Blitz India
NEW DELHI: The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks Association (IBA) showed.
The eighteenth round of the survey was carried out for the period July to December 2023.
India’s economy held relatively well (estimated 7.6 per cent) in 2023-24 compared to other major economies driven by strong investment growth and a rebound in industrial activity.
Credit growth also continued to rise, supported by factors such as economic expansion and a continued push for retail credit which has been supported by improving digitalisation. The banking sector’s clean balance sheets support further loan growth going forward.
