This paper takes a closer look at how Indian commercial banks performed financially from 2015 to 2020, covering both public sector banks (PSBs) and private sector banks (PvSBs). By tapping into secondary data from the Reserve Bank of India (RBI), annual reports from selected banks, and the Centre for Monitoring Indian Economy (CMIE) database, the study utilizes the CAMEL framework-focusing on Capital Adequacy, Asset Quality, Management Efficiency, Earnings, and Liquidity-along with panel data regression techniques. The results show that the Indian banking sector faced notable challenges in asset quality, especially between 2016 and 2018, largely due to the Asset Quality Review (AQR) launched by the RBI. While private sector banks outperformed their public counterparts in terms of profitability and asset quality, public sector banks still held a significant position in the market. The study wraps up by highlighting that factors like capitalization, credit risk, bank size, and macroeconomic elements such as GDP growth are key players in determining how well banks perform in India.