Assets quality in Indian banks have deteriorated sharply due to continued economic slowdown, which is a matter of concern not only for the lenders, but also for the policy makers. In this paper, an attempt has been made to study the trend relating to assets quality and credit management for public sector and private sector banks for the period from 2001-02 to 2013-14 through various ratio relating to default risk, recovery risk and restructuring. The results of this study indicates that at the overall level, the gross slippage ratio, up-gradation to reduction ratio, write-offs to reduction ratio, slippages to recovery and up-gradation ratio, net slippages ratio, slippages and fresh restructuring to advances, restructured advance ratio, stressed assets ratio and impaired assets ratio are found higher in public sector banks. This clearly indicates that slippages are more in this sector and the banks have resorted to restructuring extensively to report lower NPAs