Banks face a highly uncertain outlook, RBI report says

The consolidated balance sheet of Indian banks saw double-digit growth in 2021-22, after a gap of seven years, said the Reserve Bank of India in its report on the Trend and Progress of Banking in India 2021-22. "​​With global growth set to deteriorate in 2022 and with rising prospects of a recession in 2023, credit growth could procyclically decelerate across major economies which, in turn, could shrink bank profitability," RBI said.

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