Asset quality of Indian banks improved to a decadal high: Trend and Progress of Banking in India report

Current Context: On 27th December 2023, The “Report on Trend and Progress of Banking in India 2022-23” released by the Reserve Bank of India (RBI) indeed highlighted that the Indian banking system is in its best position in the last decade.

• The report showed that the banks’ gross non-performing asset (GNPA) ratio continued to improve in the second quarter of the current financial year, easing to 3.2% as of the end of September.
• This indicates a significant improvement in the asset quality of Indian banks. However, the report also highlighted the risks of fraud within the banking sector.
• Despite the surge in cases, the total number of reported frauds by banks declined to a six-year low.

Question:

Q.1 Who released the “Report on Trend and Progress of Banking in India 2022-23”?
a. The Government of India
b. The Reserve Bank of India
c. The Ministry of Finance, India
d. The Securities and Exchange Board of India