Non-Performing Assets (NPAs) have emerged as one of the most significant challenges affecting the stability and profitability of the Indian banking sector. This study presents a comparative analysis of the NPA performance of Bank of India, representing the public sector, and ICICI Bank, representing the private sector, over the period from 2010–11 to 2023–24. The research is based on secondary data collected from annual reports and other authentic published sources. Descriptive and analytical research methods have been adopted, while an independent sample t-test using SPSS has been employed to examine the statistical differences between the Gross Non-Performing Asset Ratio (GNPAR) and Net Non-Performing Asset Ratio (NNPAR) of the selected banks. The findings indicate that Bank of India consistently recorded higher gross and net NPA ratios than ICICI Bank during the study period, reflecting comparatively weaker asset quality and credit risk management. The statistical analysis also reveals a significant difference between the NPA ratios of the two banks. The study concludes that effective credit appraisal, continuous monitoring of loan portfolios, and timely recovery mechanisms are essential for reducing NPAs and improving the financial performance and sustainability of banks.