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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Small credit business finds new ways as unsecured loan growth ebbs
Firms that create differentiated risk assessments and invest in quality solutions will win, say industry executives
 "Small credit business finds new ways as unsecured loan growth ebbs")
Unsecured retail credit growth slows down in April 2024: RBI data
Credit offtake by services, industry stays robust
 "Unsecured retail credit growth slows down in April 2024: RBI data")
Bank of India floats 666 days term deposits bucket with 7.3% rate
Slashes rate on 2-year deposits by 45 basis points
 "Bank of India floats 666 days term deposits bucket with 7.3% rate")
Canara Bank says it will raise up to Rs 8,500 cr in debt capital in FY25
State-owned lender to sell 14.5% stake in life insurance subsidiary via IPO
 "Canara Bank says it will raise up to Rs 8,500 cr in debt capital in FY25")
RBI balance sheet grows 11.08% to Rs 70.47 trn in FY24, income up 17%
Central bank's contingency risk buffer at 6.5% of balance sheet, says annual report
 "RBI balance sheet grows 11.08% to Rs 70.47 trn in FY24, income up 17%")
RBI imposes business restriction on Edelweiss group's EARCL, ECL Finance
ECL has been accused of not maintaining arm's length with other group companies
 "RBI imposes business restriction on Edelweiss group's EARCL, ECL Finance")
From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive
The rating agency said in a statement that India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system
 "From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive")
Cosmos Co-operative Bank halts acquisitions; targets organic growth
So far, the bank has merged 18 small co-operative banks into itself
Bank credit growth to moderate to 14% in FY25 after robust growth: CRISIL
Higher risk weights, base effect, deposit challenge may weigh on growth
 "Bank credit growth to moderate to 14% in FY25 after robust growth: CRISIL")
JM Financial ARC's capital adequacy falls below regulatory norms
Existing investors to infuse up to Rs 1,000 crore equity
 "JM Financial ARC's capital adequacy falls below regulatory norms")
Multinationals post 45.2% growth in net profit in FY23, shows RBI data
Post-pandemic improvement in margins boosts bottom line
 "Multinationals post 45.2% growth in net profit in FY23, shows RBI data")
Jio Financial Services arm plans Rs 36K crore deal with Reliance Retail
Reliance Retail is a step-down subsidiary of Reliance Industries Ltd. RIL holds 83.56 per cent in Reliance Retail Ventures Ltd
 "Jio Financial Services arm plans Rs 36K crore deal with Reliance Retail")
Indian firms' external commercial borrowing registration up 84% in FY24
Value doubles to $49.2 bn as firms raise capital for modernisation projects and infrastructure development
 "Indian firms' external commercial borrowing registration up 84% in FY24")
ICRA Q4 results: Net profit up 21.8% to Rs 47 cr, total revenue rises 13.7%
For financial year FY24, its consolidated net profit rose to Rs 152.24 crore up from Rs 136.72 crore in FY23
 "ICRA Q4 results: Net profit up 21.8% to Rs 47 cr, total revenue rises 13.7%")
Net FDI declines by 62% to $10.5 billion in FY24, shows RBI data
At $10.58 billion, this is lowest net FDI into the country since 2007; Gross FDI stable at $71 billion
NRI deposit flows up 63.5% to $14.7 bn in FY24, the highest in 8 years
FCNR deposits were at $25.73 billion in March 2024, up from $24.90 billion in February 2024. This was higher than the $19.36 billion at the end of March 2023
 "NRI deposit flows up 63.5% to $14.7 bn in FY24, the highest in 8 years")
Non-fintech online PAs: Firms may reconsider payment aggregator biz
This comes as Zomato Payments, the wholly owned subsidiary of food delivery platform Zomato, voluntarily surrendered the certificate of authorisation issued by the RBI
 "Non-fintech online PAs: Firms may reconsider payment aggregator biz")
CMS Info Systems to bid for management contracts for 20,000 ATMs
In the managed services businesses, it has booked new orders of Rs 1,850 crore in FY24
 "CMS Info Systems to bid for management contracts for 20,000 ATMs")
2024 Lok Sabha elections: Infrastructure dominates Mumbai's discourse
Candidates woo voters amid a political tug-of-war for claiming credit for major projects
 "2024 Lok Sabha elections: Infrastructure dominates Mumbai's discourse")
N Vaghul: Institution Builder and ex-ICICI Bank chairman passes away at 88
He was admitted at Apollo Hospital in Chennai two days ago after he fell and was unconscious. He is survived by his wife, daughter and son, family sources said
 "N Vaghul: Institution Builder and ex-ICICI Bank chairman passes away at 88")