 "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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Union Bank of India eyes recoveries worth Rs 16,000 crore in FY24
There was one large account with exposure of Rs 1,200 crore which slipped into the stressed category
 "Union Bank of India eyes recoveries worth Rs 16,000 crore in FY24")
Union Bank Q1 net more than doubles to Rs 3,236 cr; NPA provisions decline
Non-interest income rose 38.57 per cent YoY to Rs 3,903 crore
Ind-Ra revises outlook on Navi Mumbai International Airport to 'negative'
Further, the ratings derive comfort from the sponsor's commitment to support the project
 "Ind-Ra revises outlook on Navi Mumbai International Airport to 'negative'")
Retail loans given by NBFCs to grow 18-20% in FY24, says Icra report
Digitalisation and cross-selling shaping high growth in unsecured loans, it says
 "Retail loans given by NBFCs to grow 18-20% in FY24, says Icra report")
Wage talks between bank employees unions and banks to start on July 28
"IBA was positive to our demand and agreed to work out an amicable resolution of this issue at the earliest", AIBEA claimed
 "Wage talks between bank employees unions and banks to start on July 28")
Bank of Maharashtra plans to raise Rs 2,000 crore via AT1, Tier II bonds
Another equity offering on cards
 "Bank of Maharashtra plans to raise Rs 2,000 crore via AT1, Tier II bonds")
L&T Finance Q1 net doubles to Rs 531 cr, credit costs decline sharply
Dinanath Dubhashi, Managing Director & CEO, LTFH said the NIM+ Fees are stabilising. The interest rates in the system are also beginning to stablise
 "L&T Finance Q1 net doubles to Rs 531 cr, credit costs decline sharply")
Bank of Maharashtra Q1 net up 95.2% YoY at Rs 882 cr; NPA provisions fall
It made a provision of Rs 250 crore for any additional burden due to shifting to expected credit loss (ECL) for loan portfolio
Go First loan won't cause losses, hopeful about airline: Central Bank execs
State-owned lender maintains close to 60% provision against loans to no-frills airline
 "Go First loan won't cause losses, hopeful about airline: Central Bank execs")
FDI moderates to $ 12.2 billion in Apr-May 2023: RBI monthly bulletin
Gross FDI had moderated from $ 84.8 billion in Fy22 to $ 71.4 billion in Fy23
 "FDI moderates to $ 12.2 billion in Apr-May 2023: RBI monthly bulletin")
Outward remittances surge to $ 2.9 billion in May, shows RBI data
People in India spent close to $1.5 billion on international travel in May, against $1.10 billion in April
 "Outward remittances surge to $ 2.9 billion in May, shows RBI data")
Central Bank Q1 net up 77.87% at Rs 418 cr, credit costs decline sharply
Sequentially, the public sector lender's profit was down 26.8%
 "Central Bank Q1 net up 77.87% at Rs 418 cr, credit costs decline sharply")
India's outward FDI down 50% in H1 2023 on grim global growth prospects
The sharp contraction in the commitments (outward FDI) was prominent in the April-June 2023 period
 "India's outward FDI down 50% in H1 2023 on grim global growth prospects")
India1 Payments to expand white-label ATM network to 20,000 units in 3 yrs
At present, white-label ATMs represent 15 per cent of all ATMs in India
 "India1 Payments to expand white-label ATM network to 20,000 units in 3 yrs")
Moody's downgrades Azure Power Energy and Azure Power Solar Energy
The one-notch downgrade of APE's and APSEP's debt ratings has been driven by governance issues related to internal controls and compliance
 "Moody's downgrades Azure Power Energy and Azure Power Solar Energy")
Credit grows by 16.22% YoY and bank deposits 12.96%, shows RBI data
Besides robust demand across segments, rise tied to quarter-end business also pushed the loan volumes in fortnight, bankers said
 "Credit grows by 16.22% YoY and bank deposits 12.96%, shows RBI data")
State Bank of India raises Rs 3,101 crore through AT1 bond at 8.1%
There is no pressure for lenders to raise capital at any price. Its capital adequacy is comfortable, and it can wait for better pricing in the coming months
 "State Bank of India raises Rs 3,101 crore through AT1 bond at 8.1%")
Rajnish Kumar, Mohandas Pai to join edtech major Byju's advisory body
Firm appoints ex-upGrad chief as overseas business CEO
 "Rajnish Kumar, Mohandas Pai to join edtech major Byju's advisory body")
India's outward FDI shrinks by half YoY in June 2023, shows RBI data
The outward FDI expressed as total financial commitment has three components - equity, loan and guarantees issued.
 "India's outward FDI shrinks by half YoY in June 2023, shows RBI data")
Reserve Bank of India looking at banks' retail loan book more granularly
Sharp rise in unsecured loans in one year
 "Reserve Bank of India looking at banks' retail loan book more granularly")