Asset quality of the sector has steadily improved as reflected in the continuous decline in the gross NPAs ratio from 21% as on March 2003 to 6.02% as on March 2015. The gross NPAs are still very high as compared with commercial banks which have Gross NPAs at 4.62% as on March 31, 2015. 12.
These practices covered the overall strategy for credit risk management, the processes for information gathering and due diligence, the measurement and control of credit exposures, the limit-setting process, the use of collateral and other mechanisms for limiting losses, and the ongoing monitoring of positions and exposures. IOSCO issued similar supervisory guidance around the same time.