Consider the following statements with respect to the 

Solution

The gross non-performing asset (GNPA) ratio of scheduled commercial banks (SCBs) fell to 3.2 per cent at end-September from 3.9 per cent at end-March according to a report by RBI. The GNPA ratio remained the highest for the agricultural sector and the lowest for retail loans as at end-September, the report on Trends and Progress of Banking in India 2022-23 (FY23). The asset quality of the industrial sector improved further, with its GNPA ratio at 4.2 per cent at end-September 2023. Within the industry, the reduction in the GNPA ratio of large industries from 22.9 per cent at end-March 2018 to 4.6 per cent at end-June 2023 was noteworthy. The report said non-banking financial companies (NBFCs) gross advances grew by 16.1 per cent in 2022-23 from 9 per cent in 2021-22. NBFCs’ double digit credit growth was driven by unsecured loans which grew more than twice as fast as secured loans.