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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SBI to raise up to Rs 20,000 cr via long-term bonds to fund infra projects
The bonds to be issued in tranches depending on market conditions
 "SBI to raise up to Rs 20,000 cr via long-term bonds to fund infra projects")
Piramal Finance plans to double retail AUM to Rs 1 trillion by FY28
Since the acquisition of DHFL in 2021, the goal has been to build on its strong customer franchise in smaller towns
 "Piramal Finance plans to double retail AUM to Rs 1 trillion by FY28")
State Bank of India indicates another 10-15 basis points MCLR hike
Loans to companies are linked to the MCLR, which depends on the cost of the funds of a bank. Retail loans are linked to the external benchmark lending rate (EBLR)
 "State Bank of India indicates another 10-15 basis points MCLR hike")
IIFL Finance Q4 results: Profit down 6% to Rs 430.6 cr on higher provisions
For FY24, its consolidated net profit rose by 23 per cent to Rs 1,974.2 crore from Rs 1,607.5 crore in FY23. Its NII rose by 38 per cent Y-o-Y to Rs 4,153.8 crore in FY24
 "IIFL Finance Q4 results: Profit down 6% to Rs 430.6 cr on higher provisions")
Lenders seek better terms to increase green and sustainable financing
According to current norms, for Rs 10,000 crore of loans, banks have to ensure Rs 4,000 crore of priority sector lending target
 "Lenders seek better terms to increase green and sustainable financing")
ESAF SFB to discontinue business correspondent services of ESMACO
Absorb 5,000 plus employees of BC on its rolls
 "ESAF SFB to discontinue business correspondent services of ESMACO")
L&T Finance's rural business finance book reaches Rs 25,000 crore
Non-bank lender aims to scale up loan against properties
 "L&T Finance's rural business finance book reaches Rs 25,000 crore")
India Inc files ECB plans worth $4.28 bn in April, shows RBI data
The registrations for ECBs by Indian companies almost doubled to $49.2 billion in the year ended March 2024 (FY24) from $26.6 billion in FY23
 "India Inc files ECB plans worth $4.28 bn in April, shows RBI data")
Commercial banks credit growth to moderate to 12-14% in FY25: Moody's
Resource mobilisation challenge, regulatory nudge to weigh on growth
 "Commercial banks credit growth to moderate to 12-14% in FY25: Moody's")
Outward FDI remain almost flat at $2.0 billion in May, shows RBI data
Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees
 "Outward FDI remain almost flat at $2.0 billion in May, shows RBI data")
State Bank of India to scale up global operations through GIFT City
Diversify in trade finance through supply chain funding to MNCs
 "State Bank of India to scale up global operations through GIFT City")
SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes
Waives of financial statement requirement for SME loans below Rs 50 lakh
 "SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes")
Nabard may raise Rs 30,000 crore through bonds in FY25, says CRISIL
The money raised through the market covering bonds and money market instruments had about 51.5% share in total borrowings by Nabard at the end of March 2024
 "Nabard may raise Rs 30,000 crore through bonds in FY25, says CRISIL")
ARCs to see 500-700 bps higher recoveries from residential realty: CRISIL
Healthy economic growth and buoyant residential demand across housing segments in the top six cities will lead to 10-12 per cent growth in residential realty demand this financial year
 "ARCs to see 500-700 bps higher recoveries from residential realty: CRISIL")
Microfinance loans up 24.5% to Rs 4.3 trn in FY24, NBFC-MFIs see moderation
The total loan accounts rose to 149 million at the end of March 2024 from 130 million a year ago
 "Microfinance loans up 24.5% to Rs 4.3 trn in FY24, NBFC-MFIs see moderation")
Consumers see further rise in spending over one year, says RBI survey
More respondents see inflation rise over one year
 "Consumers see further rise in spending over one year, says RBI survey")
RBI asks banks to rework biz plan, flags gap in credit, deposit rates
Warns microfinance institutions, NBFCs against 'usurious' rates on small loans
 "RBI asks banks to rework biz plan, flags gap in credit, deposit rates")
RBI-appointed auditor completes the special audit of IIFL Finance
Finance firm facing curb on gold loan business
 "RBI-appointed auditor completes the special audit of IIFL Finance")
Interest rate spreads hit new 10-year low of 2.25% for PSBs in April 2024
The spread between the outstanding lending and deposit rates has narrowed compared to the spread between fresh lending and deposit rates
 "Interest rate spreads hit new 10-year low of 2.25% for PSBs in April 2024")
MF funding to NBFCs grow at 30% to Rs 2.08 trn in April 2024: CareEdge
Signals confidence in robust profile of NBFCs
 "MF funding to NBFCs grow at 30% to Rs 2.08 trn in April 2024: CareEdge")