Login With Google
Need to protect autonomy of Central Bank: RBI
Why is it in the news ?
- The RBI governor Urjit Patel strongly stressed on the need to protect the autonomy of the central bank before a parliamentary panel.
- Mr. Patel made a presentation on the impact of demonetisation and the status of non-performing assets in the banking sector.
More in the news
1
NPAs on downhill path
- According to RBI, both gross and net non-performing assets (NPAs) of scheduled commercial banks have reduced in the two quarters ending September 30, 2018.
- NPAs of all scheduled commercial banks were at Rs.10.36 lakh crore at the end of the March 2018 quarter, and subsequently declined to Rs.10.14 lakh crore by the end of the September quarter.
- NPAs of scheduled commercial banks had reduced due to the concerted efforts taken by the government and RBI to address the problem.
- However, the profitability of banks was still impacted due to a decline in earnings from loan assets.
Source
The Hindu.