MUMBAI : The Indian banking industry is in its best shape in the last 50 years with regard to asset quality and capital adequacy, said K.V.
Kamath, a veteran banker and former chief of ICICI Bank. “In the more than 50 years that I have been in the banking business, I have never seen their balance sheets as clean as today in terms of bad assets and as healthy as today in terms of bad assets," Kamath, also the chairperson of the National Bank for Financing Infrastructure Development, said at the Mint India Investment Summit 2022. “Talking about bad assets, to me is passé.
It is over," he said. Kamath narrated how everyone had overestimated the quantum of debt recast needed in the aftermath of the covid-19 pandemic.
Kamath headed a five-member panel set up by the Reserve Bank of India (RBI) on 7 August 2020 to recommend eligibility parameters for restructuring stressed loans.