This paper examines the cost–benefit trends of Scheduled Commercial Banks in India during 2016–2025, focusing on the cost of deposits, cost of borrowings, return on advances, and return on investments. The analysis reveals that both deposit and borrowing costs declined steadily until 2021–22, followed by a sharp rise in subsequent years due to monetary tightening and policy changes. Conversely, returns on advances and investments declined initially but showed recovery from 2021–22 onwards. Public sector banks generally incurred higher costs, private banks consistently recorded higher returns, and foreign banks maintained lower costs with moderate returns. The findings highlight the evolving financial performance of Indian banks under changing economic and policy conditions, offering insights for policymakers, regulators, and stakeholders.