BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
We draw the following inferences from the report on Trend and Progress of Banking - FY21, released by the Reserve Bank of India:
India credit-to-gross domestic product is still markedly lower than the G20 average.
Private non-financial corporations have been net savers, progressively increasing their deposits with scheduled commercial banks, while their credit offtake has remained anaemic.
Concerted strategies for timely capital infusion need to be carried forward by banks.
Asset quality improved, partly attributable to imposition of the asset classification standstill. Write-offs were the predominant recourse for lowering gross non performing assets in FY21. Banks' asset quality may get dented, going forward.
Overall, restructured standard assets further increased to 1.8% at end September 2021. 7.7% of micro small and medium enterprise advances have been restructured under MSME restructuring schemes.
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