According to the Financial Stability Report, India’s financial system is very strong

As of March 31, 2024, the capital adequacy ratio of scheduled commercial banks in India stood at 16.8%. The gross non-performing assets (NPA) ratio hit a multi-year low of 2.8%, and the net NPA ratio dropped to a record low of 0.6%. Not only are the scheduled commercial banks strong, but non-banking financial companies (NBFCs) also remain healthy

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