Banks and NBFCs combined profit likely at Rs 1,40,000-1,50,000 crore this quarter: Sandip Sabharwal

The banking sector in India is showing impressive growth, with banks and NBFCs predicted to collectively achieve a profit of Rs 1,40,000-1,50,000 crore this quarter. This marks a significant shift from five years ago, when the industry was in a state of loss. The net NPAs appear to be under control, with banks enjoying healthy balance sheets and increased deposit growth. However, commission-based businesses such as those run by Paytm are coming under more scrutiny.