THE BANKING SECTOR hasn’t looked this strong in years. With assets worth ₹243 lakh crore, backed by strong asset quality, robust capital buffers, soaring profitability, and the Reserve Bank of India’s (RBI) proactive measures towards improving banks’ governance frameworks, one would expect smooth sailing ahead. But why are bankers fidgety?
That’s because they must contend with headwinds in the retail banking space, subdued private capex, falling low-cost deposit growth, competition from major corporates in the NBFC space, and must comply with the evolving regulations of a vigilant regulator.
That said, the best in the space will thrive. And the 28th edition of the -KPMG Best Banks and NBFCs Survey 2022-23 is proof of that. The study celebrates those that have weathered the storms in FY23,).
