In the last decade, the Indian banking system has exhibited resilience and surpassed many challenges arising from both domestic and global economic environment. The improvement in asset quality was primarily led by strong macroeconomic fundamentals and effective regulatory and supervisory oversight, mainly focusing on creating a level playing field, creation of strong banks through mergers and capital infusion, improving governance practices expanding the reach and quality of financial services, and enhancing the adoption of digital banking while ensuring customer interests were protected and most importantly ensuring that financial sector was well-cushioned with capital and liquidity buffers during the pandemic. In this context, the paper aims to find the impact of the decadal regulatory measures on efficiency and productivity of banks in India by employing the non-parametric approach of data envelopment analysis for 2005 06 to 2022 23. To isolate the productivity change over the years, the Malmquist Productivity Index is further decomposed into technological change and efficiency change to see the overall productivity over the years. The results show that contrary to popular perceptions, the performance of PSBs are much better compared to private and foreign banks.