The gross non-performing assets (GNPAs) and net NPAs of banks improved to 5.97 per cent and 1.7 per cent as of March 31, 2022, from 9.23 per cent and 3.66 per cent as of September 2019, respectively, he said.
The Reserve Bank of India (RBI) is inundated with complaints of harsh recovery practices, breach of data privacy, increasing fraudulent transactions, cybercrime, excessive interest rates and harassment of consumers, said deputy Governor M Rajeshwar Rao cautioning NBFC players against coercive recovery practices.
RBI Deputy Governor M Rajeshwar Rao said the entry of big techs into the financial sector space is a global phenomenon which is engaging the attention of central banks around the world as well.
RBI Deputy Governor M Rajeshwar Rao on Monday emphasized on the need to mainstream green finance and think of ways to incorporate the environmental impact into commercial lending decisions.
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