Economic recovery gradual, uneven amidst global headwinds: RBI report

Corporate sales and profitability increasing and gross NPA of banks is at 6-year low

High-frequency indicators during the first quarter of the current financial year suggested the Indian economy is recovering gradually and strengthening unevenly despite global headwinds, said the financial stability report (FSR) of the Reserve Bank of India (RBI). It noted that gross non-performing assets (GNPA) of scheduled commercial banks hit a six-year low, with demand for loans rising after a gap.

“In the Indian economy, high-frequency indicators point to a gradual but unevenly strengthening recovery in the first quarter of 2022-23, in spite of headwinds from the geopolitical situation, elevated commodity prices, especially of crude oil, and volatile financial conditions, as global