 "Abhijit Lele")
Abhijit Lele
Abhijit Lele
Abhijit Madhav Lele covers banking financial services at Business Standard. Earlier, he has worked with the Press Trust of India, covering banking, finance, and capital markets in Delhi and Mumbai (1997-2006). He also had a stint in the editorial team of India Economic Update, a Dalal Street Journal group publication (1995-1997). He has also worked as a lecturer (psychology) with Sathaye College, Bombay University (1992-95).
Abhijit Madhav Lele covers banking financial services at Business Standard. Earlier, he has worked with the Press Trust of India, covering banking, finance, and capital markets in Delhi and Mumbai (1997-2006). He also had a stint in the editorial team of India Economic Update, a Dalal Street Journal group publication (1995-1997). He has also worked as a lecturer (psychology) with Sathaye College, Bombay University (1992-95).
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Bank credit for services up three-fold in Apr-Dec 22 as economy picks up
Credit to NBFCs and trade (wholesale and retail) showed maximum traction, RBI data showed
 "Bank credit for services up three-fold in Apr-Dec 22 as economy picks up")
RBI partially eases curbs on SBM Bank till Mar 15 for customers' relief
On Jan 23, RBI had asked the lender to immediately stop transactions under LRS, following certain material supervisory concerns observed in the bank
 "RBI partially eases curbs on SBM Bank till Mar 15 for customers' relief")
State Bank of India plans to raise $500 million via green bonds
SBI has also issued green bonds worth $800 million since 2018-19 and a green loan worth €50 million in 2020-21
 "State Bank of India plans to raise $500 million via green bonds")
Exposure to Adani group well below limit, says State Bank of India
Lender says all exposures secured by cash generating assets, and debt service will not be a challenge
 "Exposure to Adani group well below limit, says State Bank of India")
Private banks post 31.7% YoY growth in Q3, net profit rises to Rs 35,166 cr
Healthy interest margins, credit offtake boost bottomline; provisions show subdued rise on better asset quality
 "Private banks post 31.7% YoY growth in Q3, net profit rises to Rs 35,166 cr")
Banks get time till Dec end to renew safe deposit locker agreements
RBI has asked them to complete work in phases with intermediate milestones of 50% by June 30, 75% by Sept 30
 "Banks get time till Dec end to renew safe deposit locker agreements")
RBI asks SBM Bank to put brakes on remittance transactions immediately
The banking regulator in a statement said the action was based on certain material supervisory concerns observed in the bank. It, however, did not elaborate on the nature of concerns
 "RBI asks SBM Bank to put brakes on remittance transactions immediately")
YES Bank Q3 net down 80.7% at Rs 52 crore as ageing bad loan hurt
YES Bank's net interest income was up 11.7% YoY in Q3 to Rs 1,971 crore. Sequentially, NII declined from Rs 1,991 crore
 "YES Bank Q3 net down 80.7% at Rs 52 crore as ageing bad loan hurt")
Union Bank Q3 net up 106.8 % at Rs 2,245 cr, considers QIP for equity
State-owned lender's loan book grows 20.09% YoY to Rs 8.04 trn, asset quality improves
 "Union Bank Q3 net up 106.8 % at Rs 2,245 cr, considers QIP for equity")
NRIs' deposits touch $134 billion in November 2022: RBI bulletin
Old data for October 2022 had shown that outstanding amounts in NRI deposits had broken the streak of continuous fall for the first time in the fiscal year
Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins
State-owned lender reports first full quarter after exiting regulator's Prompt Corrective Action regime
 "Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins")
Lenders select Ramkrishna Forgings resolution plan for ailing JMT Auto
Auto component manufacturing company undergoing insolvency proceedings
 "Lenders select Ramkrishna Forgings resolution plan for ailing JMT Auto")
BoI's Q3 net profit rises 12% YoY to Rs 1,151 cr on improvement in NIM
In a filing with BSE, BoI said its net interest income (NII) was up 64 per cent YoY in Q3 to Rs 5,596 crore
 "BoI's Q3 net profit rises 12% YoY to Rs 1,151 cr on improvement in NIM")
After hitting road bump in Dec, bank credit growth to regain pace in Q4
Ind-Ra said the credit expansion of (Rs 6.1 trillion) does not seem like a stretch goal, given the level of economic activity in the system
 "After hitting road bump in Dec, bank credit growth to regain pace in Q4")
BoM Q3 profit more than doubles to Rs 775 cr, lender mulls 5% stake sale
State-owned bank may come out with qualified institutional placement of equity shares in the last quarter of FY23
Fitch downgrades Azure Power Energy's rating on governance concerns
There is lack of clarity in impact of holding company's internal controls and compliance framework: Rating agency
 "Fitch downgrades Azure Power Energy's rating on governance concerns")
Tata Capital Healthcare Fund infuses $ 10 mn in Mumbai Oncocare Centre
MOC, a unit of Cellcure Cancer Center Pvt Ltd, plans to utilise the newly infused capital to expand across India in next 18 months, the company said in a statement
 "Tata Capital Healthcare Fund infuses $ 10 mn in Mumbai Oncocare Centre")
L&T Finance's Q3 net profit rises 39% on improved margins and fees
To accelerate sale of wholesale loan book; Makes one-time provision of Rs 2,687 cr
 "L&T Finance's Q3 net profit rises 39% on improved margins and fees")
Ind-Ra upgrades issuer rating for Bank of India, cites capital position
State-owned lender has since FY21 reported consistent profitability, says agency
Here's why private banks' SME credit has grown four times faster than PSBs'
Bankers say private lenders have more risk appetite, faster response times, and are aggressive on pricing
 "Here's why private banks' SME credit has grown four times faster than PSBs'")