New Delhi, Feb. 2 -- India's banking sector is "very robust and resilient," with asset quality at its best-ever levels and strong credit growth across key segments, said M. Nagaraju, Secretary, Department of Financial Services (DFS), while addressing an industry gathering post Budget organised by the Confederation of Indian Industry (CII) on Monday.

Highlighting key performance indicators, Nagaraju said the provision coverage ratio (PCR) of banks stands at around 94%, while net non-performing assets (NPAs) have declined to 0.47%, the lowest level recorded so far. Credit growth remained healthy at 12%, while deposit growth stood at 10%.

Sector-wise, agriculture credit grew by 10%, while lending to micro, small and medium enterprises (MSM...