1

PROJECT REPORT

A COMPARATIVE STUDY & ANALYSIS OF NPA (NON-PERFORMING ASSET )

IN INDIAN BANKS

FOR

THE PARTIAL FULFILLMENT OF THE AWARD OF THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION
FROM GGSIP UNIVERSITY
DELHI

BATCH: 2021-2022

SUBMITTED BY: SUBMITTED TO:

ANIRUDH GOPAL PROF. RAHUL VERMA
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TABLE OF CONTENTS

Sr.no. PARTICULARS Pg.no

1 INTRODUCTION 3-4

2 REVIEW OF LITERATURE 5-6

3 RESEARCH GAP 7

4 RESEARCH QUESTIONS 7

5 THE DESIGN OF STUDY 8

6 RESEARCH METHODOLOGY 9

7 DATA ANALYSIS AND INTERPRETATION 10-17

8 FINDINGS 18

9 CONCLUSION 19

10 LIMITATION AND FUTURE SCOPE OF STUDY 19

11 REFERENCES 20-21
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1. INTRODUCTION OF NON-PERFORMING ASSETS:

Indian banking sector is the backbone of the country. It reflects the financial health and economic
situation of the country. The primary function of a bank is to lend funds as loans to various sectors
such as agriculture, industry, personal and residential buildings etc. and to accept deposits from
individual customers as well as industrial and institutional customers. There is generally no risk
involved in accepting a deposit as it is the banker who is required to repay the deposit whenever it is
called for. On the other hand, a loan fund is always associated with a high risk, because there is no
guarantee of repayment of the loan. Recently, banks have been very cautious in extending loans due to
the fear of increasing non-performing assets. If the borrowers are unable to repay the principal and
interest within 90 days, the mortgage assets of the borrowers become NPA. Such assets do not
generate returns or any income for the banks.

TYPES OF NPAs:

I. Gross Non-Performing Assets

II.Net Non-Performing Assets

Gross Non-Performing Assets:

 Gross NPAs are the sum total of all loan assets that are classified as NPAs as per
RBIguidelines as on balance sheet date.
 It consists of all Non-Standard assets like as sub-standard, doubtful and loss assets.
 It can be calculated with the help of following ratios:
Gross NPAs Ratio=Gross NPAs/Gross Advance
*100

Net Non-Performing Assets:

Net NPAs are those type of NPAs in which the bank has deducted the provision for uncertain
and unpaid debts.

 Net NPA is obtained by reducing the provision from gross NPAs and show the actual
burden of banks. It can be calculated by following:
 Net NPAs=Gross NPAs-Provision on Gross Advances
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CATEGORIES OF NON-PERFORMING ASSETS

On the periods basis Non-Performing Assets are classified into 3 categories:

I. Sub-standard Assets

II. Doubtful Assets

III. Loss Assets

Sub-standard Assets:

A substandard asset is asset of NPA for a period less than or equal to 12 months.

Doubtful ASSETS:

A Doubtful asset is asset of NPA for more than 12 months.

Loss Assets:

A loss asset is type of asset of NPA which losses has been identified by the bank authority,
auditors or the RBI but the loss amount has not been written off fully.
 5

2. REVIEW OF LITERATURE

Dr. Kapil K Dave (2016): The e comparative study of NPA of public and private sector banks
have concluded that each bank have its own independence credit rating agency which should
evaluate the financial capacity of the borrower before than credit facility. An effective committee
can be formed for management of NPA comprising of financial experts who have wide knowledge
in this field. NPA can be considered as a crucial rating factors for any bank; it should regularly
evaluate the financial condition of the client.

Vivek Rajbahadur Singh (2016): This research paper found that NPA is just not only problem for
the banks but for economy too. It studies the status of NPAs of Indian scheduled commercial banks
in India. It also studies the impact of NPAs on banks and also know the recovery of NPAs through
various channels. It also gives appropriate suggestions to avoid future NPAs and to manage existing
NPAs in banks. The study shows that extent of NPA is comparatively very high in public sector
banks. NPAs level of our banks is still high as compared to foreign banks. It is not at all possible to
have zero NPAs. The bank management should speed up the recovery process.

HaraniB,Subramanyam Mutyala (DEC 2019)-Their investigations indicates that NPAs

problem isa very serious concern and it’s an endless battle in India because it destroys the sound
financial position of them. This problem has to be addressed in such a way that it should not
impact on the financial position and image of the bank. This study analysis the sector-wise
classification NPAs and loan assets of public and private sector banks. It also examines the gross
NPAs, gross advance and gross NPAs ratio of public and private sector banks in India. This
study also reveals that non –priority sector loans have worsened NPAs which cause headache for
public sector banks.

B. Senthil Arasu, P. Sridevi, P. Nageswari, R. Ramya (2019) This study found that among
public sector banks, the average gross and net NPAs of SBI, PNB, BOI are recorded above the
overall average of the selected banks. The level of gross and net NPAs of public and private
sector banks gradually increased year-on-year from 2014 to 2018. It therefore advised the
regulators and concerned banking officials to take necessary steps to reduce NPAs and improve
the recovery mechanism. It is also found that there is a significant positive relationship between
gross NPA and net NPA of public and private sector banks and also a negative significant
relationship between gross and net NPA and ROA of public and private sector banks.
 6

Mr. Abid Husain,G.Kadiw and Dr. Rasikbhai,I. Prajapati (FEB 2020) There are differences
between NPAs in both public and private sector banks. This study shows that bank types and
sectoral NPAs do not have a combined effect on total bank NPAs. The result of the study shows
that in public sector banks in both priority and non-priority industry category recorded higher
NPAs. The average NPAs over the study period of all the selected private sector banks are less
than 5% and the average NPAs over the study period of the large all the selected public sector
banks are more than 5%. This study shows that the quality and efficiency of debt coverage assets
of private sector banks are better than public sector banks. Compared to private sector banks,
public sector banks have recorded higher NPAs.

Girnara MonaRameshbhai (JULY 2020) Took 5 public banks and 5 private banks to study
NPA. This research paper considered the data of public and private sector banks for the last 5
years. This research paper attempts to evaluate various NPA ratios based on secondary data. This
research paper provides a conceptual idea about the meaning of NPA, various ratios related to
NPA and also compares NPA in public and private sector banks. After comparison it is found
that NPA is high in public sector banks as compared to private sector banks. The volume of gross
NPAs and net NPAs is high in public sector as compared to private sector banks. I found that
more amount of NPAs negatively affects the profitability of the bank.

Rishabh Adey,Deevanshu YashGoyal, MD. Nizam Siddiqui, Lata dhruw (2020) This study
found that NPAs drain banks' capital and weaken their financial strength. Public sector banks are
more NPA based as compared to private sector banks. Banks and financial institutions should be
more constructive in pursuing a realistic and systematic NPA management strategy where NPA
prevention is a priority. Public sector banks must be vigilant to prevent any account from
becoming NPA by effectively adopting adequate preventive steps.
 7

3. RESEARCH GAP:

As we know, many researchers have already done a lot of research in this area, but the
comparison of 2 Public Sector Banks (SBI, PNB) and 2 Private Sector Banks (AXIS Bank,
HDFC Banks) in FY 2016-2020 is still not complete. Here I have done a comparative analysis by
tanking these selected banks. And also analyzed their relationship between the key parameters of
banks with NPAs.

4. RESEARCH QUESTIONS:

 What are the key parameters of banking sector measures the NPAs?
 Is there any relationship between Net NPAs and Net Profit of the bank?
 Which bank is better for NPAs?
 Which bank is worsening for NPAs?
 8

5. THE DESIGN OF STUDY:

5.1. STATEMENT OF PROBLEM:

With the changing times, the definition of NPA is also changing. Therefore, NPA in India is
gradually increasing at an increasing rate. It is considered one of the key indicators that evaluates
the financial performance of each bank. Thus, studying the dynamic changes of NPAs in the
banking sector in India is very important. You will understand this better by doing a comparative
analysis of Public Sector Banks and Private Sector Banks in India. So here I have selected 2
public sector banks i.e. SBI and PNB and 2 private sector banks i.e. AXIS Bank and HDFC Bank
for the purpose of the study because these banks are most prominent in their specified area and
best in their category. The present study focused on various components like gross NPA, net
NPA, return on assets, net NPA, net profit etc. for the study of both public and private sector
banks.SCOPE OF THE STUDY: The scope of the study is comparative analysis of 2 public
sector banks and 2 private sector banks in India for the duration of 2016 to 2020.

5.2. Objectives of the Study:

 To study the relationship between NPA with the key parameters of selected banks.
 To find out the impact of NPA on Net profit and Return on Assets (ROA) of the
selectedBanks.
 9

6. RESEARCH METHODOLOGY :

6.1. TYPE OF STUDY:

Descritive

6.2. SOURCES OF DATA:

The present study based on secondary data. These data have been collected from different
sources such as:

 Annual reports of SBI, AXIS Bank, RBI, PNB, HDFC Bank

 Press Release Report of SBI, AXIS Bank ,PNB , HDFC Bank
 And related subject matter and related website of public and private sector banks in
India.

6.3. SAMPLE DESIGN: Public and private sector banks for the study were selected based on
there maket capitalization. For these 2 public and 2 private sector banks were selected for the
study on the basis of market capitalization. The study period is from 2016 to 2020.

The following are the selected sample banks:

A. Public sector bank: State Bank of India (SBI) ,Punjab National Bank (PNB)

B. Private sector bank: AXIS Bank, HDFC Bank

6.4. STATISTICAL TOOLS USED:

 The average was calculated to know the average performance and stability of
performance of the banks to find out the relationship between NPA and other key
parameters of the bank.

 Correlation was also used to check the relationship between net NPA and net profit and
return on assets (ROA) of selected public and private sector banks in India
 10

7. DATA ANALYSIS AND INTERPRETATION:

7.1. Table-1

Table-1

%Gross NPA of selected public and private sector banks in India from 2016 to 2020

YEAR PUBLIC SECTOR PRIVATE SECTOR BANKS

BANKS
%Gross NPA
%Gross NPA

SBI PNB HDFCBANK AXIS BANK

2015-16 6.50 12.90 1.00 2.00

2016-17 6.90 12.53 0.25 5.04

2017-18 10.91 18.38 1.04 6.77

2018-19 7.53 15.50 1.28 5.26

2019-20 6.15 14.21 1.35 4.86

MEAN 7.598 14.7 0.984 4.786

Interpretation:

Table-1 reveals the % of Gross NPA of selected public sector and private sector banks in India.
PNB has highest Mean ratio of 14.7%, followed by SBI with 7.598%. HDFC has lowest Mean
ratio of 0. 984%. AXIS Bank have 4.786%Mean ratio. This shows that there is a consistency in
Gross NPA to gross advances ratio or % of Gross NPA ratio
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7.2. Relationship between Net profit and Net NPA of selected Banks

Table-2

Net Profit and Net NPA of selected public sector banks in India from 2016 to 2020

YEAR SB PNB
I

Net Profit Net Net Profit Net

(in Cr.) NPA (in (in Cr.) NPA (in
Cr.) Cr.)

2015-16 9950.65 55807.02 -3974.39 35422.57

2016-17 10484.10 58277.38 1324.80 32702.11

2017-18 -6547.45 110854.70 -12,282.82 48684.29

2018-19 862.23 65894.74 -9,975.49 30037.66

2019-20 14488.11 51871.30 336.20 27218.89

MEAN 5847.528 68541.03 -4914.34 34813.104

Interpretation:
Table 2 shows that when NPA increases at increasing rate, then there will be a downfall in the
Net profit of the banks. It is cleared from the above table that the NPA of SBI increases
₹55,807.02 Cr to ₹65,894.74 Cr from 2016 to 2019 i.e., 18.08%. But as compare to 2020-year
NPA is decreased at7.05%. In AXIS Bank NPA increased from the year 2016 to 2019 from
₹2,522.14Crto ₹11,275.60 Cr. In the year 2020 NPA is decreased ₹1915.19 Cr as compare to the
previous year .The mean of Net profit of SBI is more as compare to AXIS Bank and Average
NPA is also high in case of SBI i.e.,₹69,202.60 Cr.
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A. RELATIONSHIP OF NET PROFIT AND NET NPA OF SBI

2019-20 51871.3
14488.11
2018-19 65894.74
862.23
2017-18 110854.7
-6547.45
2016-17 58277.38
10484.1
2015-16 55807.02
9950.65

-20000 0 20000 40000 60000 80000 100000 120000

SBI Net NPA SBI Net Profit

Interpretation:

The above diagram shows Net profit and Net NPA of SBI from the period 2016 to 2020.It showing that
when Net NPA of SBI increased then Net Profit will be decreased. In the year 2017-18 there is highest
Net NPA of ₹110854.7 Cr. over all of the year. Due to highest NPA, Net Profit of this year went to
negative of ₹6547.45 Cr

B. Relationship of Net NPA and Net Profit of PNB

27218.89
2019-20
336.2
30037.66
2018-19
-9,975.49
48684.29
2017-18
-12,282.82
32702.11
2016-17
1324.8
35422.57
2015-16
-3974.39

-20000 -10000 0 10000 20000 30000 40000 50000 60000

PNB Net NPA PNB Net Profit
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Interpretation:
The above diagram indicates the relationship between Net NPA and Net Profit of the PNB.
According to the directions it shows that there is an inverse relationship between Net NPA and
Net Profit of the bank. When NPA of the bank increases, then the profit of the bank going to
decrease. In the year 2018-19, 2017-18 and 2015-16 the Net Profit is showing negative figures.
In the year 2016-17 it has positive figure of NPA i.e., ₹1324.8Cr.

7.3. RELATIONSHIP OF NET PROFIT AND NET NPA OF PRIVATE SECTOR BANKS

TABLE-3

Net Profit and Net NPA of selected Private sector banks in India from 2016 to 2020

YEAR AXIS BANK HDFC BANK

Net Profit (in Cr.) NET NPA (in Cr.) NET PROFIT NET NPA

(in Cr.) (in Cr.)

2015-16 3679.28 8626.55 12296.23 1320.37

2016-17 275.68 16591.71 14549.64 1843.99

2017-18 4676.61 11275.60 17486.73 2601.02

2018-19 1627.22 9360.41 21078.17 3214.52

2019-20 6588.50 6993.52 26257.32 3542.36

MEAN 3369.458 10569.56 18333.62 2504.452

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Interpretation:
Table:3 shows that the Net Profit (in Cr.) and Net NPA (in Cr.) of 2private sector banks.Such as
AXIS BANK and HDFC BANK. The data of AXIS Bank indicates that the net profit and Net
NPA are fluctuate over the 5years.Initially increased then decreased then again increased then
again decreased and so on. But in HDFC bank the Net Profit and Net NPA are increases at
increasing rate over the 5 years. The Mean value of Net profit is highest in HDFC Bank with
₹18333.62 Cr. and Mean value of NPA is highest in AXIS bank i.e., ₹10569.56 Cr.
A. Relationship of net NPA and Net profit of AXIS Bank

6993.52
2019-20
6588.5

2018-19 9360.41
1627.22

2017-18 11275.6
4676.61

2016-17 16591.71
275.68

2015-16 8626.55
3679.28

0 5000 10000 15000 20000

AXIS BANK NET NPA
AXIS BANK NET PROFIT

Interpretation:

The above chart indicates the Net NPA and Net Profit of AXIS bank. Here Net NPA are
increased over the 5 years at an increasing rate. In the year 2016-17 Net NPA showing highest
value with ₹16591.71 Cr. and Net Profit showing lowest value i.e., ₹275.68 Cr. In the year 2019-
20, as NPA increased, the Net profit of the bank declined but at minimum rate. Thus, it shows
that there is a negative relationship between Net NPA and Net profit of the bank.
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4.Relationship between Net NPA and Net profit of HDFC Bank

Relationship between Net NPAs and

Net Profit of HDFC Bank

2019-20 3542.36
26257.32
2018-19 3214.52
21078.17
2017-18 2601.02
17486.73
2016-17 1843.99
14549.64
2015-16 1320.37
12296.23

0 5000 10000 15000 20000 25000 30000

HDFC BANK Net NPA

Interpretation:
The above chart shows the relationship between Net NPA and Net Profit of the HDFC Bank. It
is clearly show that Net Profit and Net NPA increased over the 5 years at increasing rate. In the
year 2019-20 HDFC has highest Net profit and Net NPA of ₹26257.32 Cr. And ₹3542.36 Cr.
respectively. It has lowest Net Profit and Net NPA in the year 2015-16 with value of ₹12296.23
Cr. and ₹1320.37 Cr. respectively. Thus, it is cleared from the chart that there is a direct
relationship between Net NPA and Net Profit in HDFC bank.
 16

7.4. Correlation between mean Net NPA and mean Net Profit for the
5years of the following banks:

Table-4

Bank Mean Net Profit Mean Net NPA Correlation

SBI 5847.528 68541.03 -0.913823

PNB -4914.34 34813.104 -0.645308

AXIS Bank 3369.458 10569.56 -0.752262

HDFC Bank 18333.62 2504.452 0.9658519

Interpretation:

Since we have calculated correlation all the banks and as seen the correlation is negative in first
3 banks but only HDFC bank shown positive correlation. It means there is a direct relationship
between Net Profit and NPA of the HDFC bank. As NPA increases, Net profit of such bank also
increases.
 17

7.5. Correlation between Return on Assets and Net NPAs of

selectedbanks:

Table-5

Return on Assets (ROA) and Net NPA % of selected public sector banks in India from 2016 to
2020
YEAR

Public Sector Banks

SBI PNB AXIS BANK HDFC BANK

ROA% Net ROA% Net ROA% Net ROA% Net

NPA NPA NPA NPA
% % % %
2015-16 0.46 3.81 -0.59 9.00 1.72 0.70 1.93 0.40

2016-17 0.41 3.71 0.18 8.00 0.65 2.11 0.33 1.88

2017-18 -0.19 5.73 -1.60 11.00 0.04 3.40 1.93 0.40

2018-19 0.02 3.01 -1.28 6.56 0.63 2.06 1.90 0.39

2019-20 0.38 2.23 0.04 5.78 0.20 1.56 2.01 0.36

MEAN 0.216 3.698 -0.65 8.068 0.648 1.966 1.62 0.686

CORRELATION -0.60542 -0.52749 -0.09369 -0.99928

Interpretation:

The table-5 shows the data of Return on Assets (ROA)% and Net NPA % of selected public
sector and private sector banks in India from the year 2016 to 2020.The ROI% of SBI decreased
and even negative figures in the year 2017-18 and Net NPA% are fluctuated over the years. In
PNB, initially the NPA% is increased from the year 2015 to 2017 and then started to decrease.
The ROI% of PNB show in negative figures in the year 2015, 2016 and 2019 and the rest of year
it shown positive figures. Mean value is lowest in SBI as 0.216%. HDFC has more ROA% mean
value i.e., 1.62 over the year. The mean value of Net NPA % is more in PNB i.e., 8.068 and all
the banks shows negative correlation between ROA% and Net NPA%.
 18

8. FINDINGS:

Comparison among public bank and private bank:

 Gross NPA%: It is one of the key indicators of the banking sector. As per the
comparative analysis, Gross NPA % is higher in public sector bank i.e. PNB by 14.7% and
lower in private sector bank i.e. HDFC bank with a mean value of 0.984%.

 Net Profit (in Cr): It shows the bank's profitability. The average value of net profit is
highest in HDFC bank i.e. ₹ 18333.62 cr. And the lowest in PNB which shows negative
numbers i.e. ₹-4914.34 cr.

 Net NPA Amount (in Cr.): It is another key parameter of the bank's financial position.
As per comparison public sector bank i.e. PNB with higher median value of NPA
34813.104 cr. and HDFC private sector bank with a lower median NPA of Rs 2,504,452 cr.

 Return on Assets (ROA)%: Comparatively ROA % is more in HDFC which has 1.62%
average ROA %. And less so in PNB which shows a negative average ROA of -0.65%.

 Net NPA %: As per the comparison between public sector banks and private sector
banks Net NPA % is more in Public Sector bank i.e., PNB which has mean value of
NPA % is 8.068 and less in Private sector bank i.e., HDFC Bank with 0.682% of mean Net
NPA%

 Correlation between Net NPA and Net Profit: According to the point of correlation
between Net NPA and Net Profit, all the banks show negative correlation except HDFC
bank which shown positive correlation 0.9658. Negative correlation indicates that when
NPA will rise then Net profit will be decreased.

 Correlation between Net NPA %and Return on Assets (ROA)%: According to the
analysis, NPA has a negative impact on ROA. The negative correlation is manifested in all
selected public and private sector banks. This means that an increase in NPAs leads to a
decrease in ROA of banks.
 19

9. CONCLUSION:

Here I conclude that NPA is one of the key parameters that shows the financial stress of all banks
in India. NPA is one of the biggest problems in the banking sector. It is difficult to completely
reduce NPAs from banks but we should try to remove some major part of NPAs from banks.
After comparison it is found that NPA is more in public sector banks i.e. Punjab National Bank
(PNB) in India and this has negatively affected the profitability of the banks as PNB has a
negative correlation between net NPA and net profit. ROI % is more in HDFC bank and it also
has low NPA %. According to this comparison between selected public and private sector banks
in India, it is clear that HDFC bank is good for NPA as it shows low % gross NPA, low % net
NPA and higher % ROI in the last 5 years of the study. completely reduce NPAs from banks but
we should try to remove some significant part

NPAs from banks. So this is one of the main problems of public sector banks and the
government. Now the Reserve Bank of India (RBI) has been strengthened to take action and
measures against NPAs in banks. There is a need to focus on the NPAs of every public sector
bank in India. To eliminate NPAs, the bank should improve its credit structure as well as its
repayment structure. It also focuses on the mechanism of minimizing the risk of failure. The
bank should follow all the credit policy of the government and take timely action against NPAs.
The bank has also improved its NPA management system.

10. LIMITATION AND FUTURE SCOPE OF STUDY:

This research is based on secondary data. I have just made a conclusion based on the analysis of
data collected for the last five years from 2016-2020. The statistical concept used is limited. The
researcher can further research on this topic by taking last 10 years data and using other various
statistical tools and other various key parameters like CASA %, ROCE %, cost of revenue %, etc.
and their impact on bank NPA .
 20

11.REFERENCES:

1. Girnara, Mona. (2020),” Comparative analysis of Non-Performing Assets in public sector bank
and private sector bank.

2. Kavitha N.Aand Muthu Meenakshi.M.(2016), ‘’A comparative study of Non-Performing

Assetsof Public and Private Sector Banks,IJMTST Journal, Volume No.2, Issue No.03.

3. Mr. AbidHusain G Kadiwala ,Rasikbhai I Prajapati. (2020),’’Sector-wise comparative analysis

of Non-performing Assets of selected private sector and public sector banks of India’’,IGCRT
Journal, Volume No.08,Issue No.04

4. Ms. Asha Singh. (2013),’’Performance of Non-Performing Assets (NPAS) in Indian

Commercial Banks’’., IJMFSMR Journal, Volume No.9, Issue No.2

5. Harani.B, Subramanyam Mutyala.(2019),’’A comparative Analysis of Non- Performing Assets

(NPAs) of public and private sector banks in India-An Endless Battle’’. IJSTR Journal, Volume
No.08, Issue No.12.

6. Singh Vivek Rajbahadur. (2016),’’A study of Non-Performing Assets of Commercial Banks

andit’s recovery in India. Annual Research Journal of SCMS, Volume No.4.

7. Prashannth K Reddy. (2002).’’A comparative study of Non-Performing Assets in India in the

global context-similarities and dissimilarities, remedial measures’’. SSRN Journal, Volume-02,
Issue No-09.
8. Dave K Kapil. (2016).’’ A comparative study of Non-Performing Assets in public and
privatesector banks in India.’’IJSR Journal. Volume No.5.Issue No.8.

9. Murari Krishna. (2014).’’ Comparative evaluation of Non-Performing Assets of Indian

banks:A study of public and private sector banks’’. AJRBF Journal. Volume No.4.Issue No.5

10.K. Prashanth Kiran and T.Marry Jones (2016).’’ Effect of NPA on the profitability of
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11.www.sbi.ac.in
12.https://www.researchgate.net/publication/343180583
 21

13. Reserve Bank of India,’’ Report on trend and Progress of banking in India, Various issues,’’.

14. https://corporatefinanceinstitute.com/resources/knowledge/other/non-performing-assets- in-

indian-banks/

15. https://www.clearias.com/non-performing-assets-npa/
16.https://www.moneycontrol.com/financials/axisbank/results/yearly/AB16
17.https://www.moneycontrol.com/financials/statebankofindia/balance-sheetVI/SBI
18. https://www.moneycontrol.com/news/business/markets/axis-bank-suffers-loss-but-asset-
quality-better-takeaways-from-q4fy20-scorecard-5198801.html

19. https://www.moneycontrol.com/financials/axisbank/results/yearly/AB16
20.https://sbi.co.in/web/investor-relations/sbi-financial-highlights-past-5
21.https://www.axisbank.com/annual-reports/2019-2020/index.html

Magazine

Annual Report of RBI

Annual Report of SBI
Annual Report of PNB
Annual Report of AXIS Bank
Annual Report of HDFC Bank
Press Release of SBI
Press Release of PNB
Press Release of AXIS Bank
Press Release of HDFC Bank
Press Release