 "public sector banks")
Global rating agency Standard and Poor’s on Thursday said polarisation in the performance of Indian banks may persist in FY23 as many large public-sector banks are still saddled with weak assets, high credit costs, and poor earnings.
State Bank of India and leading private-sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the system's, S&P added.
Similarly, finance companies (fincos) in India are expected to show a mixed performance. The asset quality of these fincos is often weaker than that of major private-sector banks in the country.
The economic recovery in India
