Gross NPA value of public sector banks India FY 2018-2021

Indian public sector banks collectively owed approximately 6.17 trillion Indian rupees in non-performing assets in fiscal year 2021. This value was much higher, at around 7.5 trillion rupees in the 2019 fiscal year, indicating a slow but slight relief for India's economy in terms of non-paying assets at public banks.

 How many banks are there in India? 

  India is a huge country with a population of over 1.3 billion. Therefore, the number of nearly 100,000 banks across the country, which is sometimes heard, might not surprise. While this number is technically correct, it must be differentiated. That number comes from the fact that there are around 96,000 rural cooperation banks on the local level across the country. Another 1,485 are urban cooperative banks. These cooperative banks lend money to farmers in rural areas as well as to self-employed workers and small industries in urban areas. Additionally, there are around 140 bigger banks. Among them are Regional Rural Banks (RRB), foreign banks, private, and public sector banks. All banks in India are regulated by the Reserve Bank of India (RBI).

 Public sector banks in India 

As of 2021, public sector banks consisted of 12 nationalized banks with the government of India being the major stakeholder in all these banks. The biggest bank across India is the public State Bank of India (SBI). In financial year 2020, the SBI recorded net sales worth almost 2.5 trillion Indian rupees. Over the last decade, the SBI merged with those banks that had been known as the associate banks of the SBI.