How long will the good run last?

In public, bankers exude confidence and say everything is hunky-dory, but the rising defaults in a few pockets don't exactly suggest this

This column has been updated

---

Hold your breath.

In the financial year 2024, which ended in March, 26 listed banks – 14 private banks, seven public sector banks (PSBs) and five small finance banks – had less than 1 per cent net non-performing assets (NPAs). When did we last see such robustness in the Indian banking industry?

The list of sub-1 per cent NPA banks includes the top three by assets – the State Bank of India (0.57 per cent), HDFC Bank Ltd (0.33 per cent) and ICICI Bank Ltd (0.45 per cent). 

Among others, Axis Bank Ltd (0.31