 "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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Poonawalla Fincorp to keep headcount at 3,000 for 5 yrs to build AUM
Eyes Rs 50,000 crore AUM by FY27, up from Rs 16,000 cr currently
 "Poonawalla Fincorp to keep headcount at 3,000 for 5 yrs to build AUM")
Low inflation shows RBI Policy is effective: Governor Shaktikanta Das
The impact of the recent unseasonal rain and hailstorms, however, needs to be watched
 "Low inflation shows RBI Policy is effective: Governor Shaktikanta Das")
Export lender Exim Bank to raise up to record $4 billion in FY24
Net NPA increased to 0.71 per cent in March 2023 from nil in March 2022
 "Export lender Exim Bank to raise up to record $4 billion in FY24")
Aditya Birla Capital Q4 net up 35%, to raise upto Rs 3,000 cr in equity
The fund raised through equity offering would be used for supporting growth in lending and insurance businesses
 "Aditya Birla Capital Q4 net up 35%, to raise upto Rs 3,000 cr in equity")
India's vulnerability to global shocks to reduce in FY24: CRISIL
Domestic banking insulated from global financial turmoil and better positioned to tackle rising interest rates
 "India's vulnerability to global shocks to reduce in FY24: CRISIL")
Growth in working-age population calls for more jobs: RBI Deputy Guv Patra
The RBI deputy governor said the potential for boosting savings and investments considerably enhances India's emergence as a future economic powerhouse in the world
 "Growth in working-age population calls for more jobs: RBI Deputy Guv Patra")
NCLT admits Go First's insolvency plea, puts it under moratorium
Go First filed for insolvency this month, blaming "faulty" P&W engines for the grounding of about half its 54 Airbus A320neo
 "NCLT admits Go First's insolvency plea, puts it under moratorium")
ED searches may tarnish Manappuram's business prospects: Fitch report
Federal agency's action can flag potential governance risks at company, says ratings agency
 "ED searches may tarnish Manappuram's business prospects: Fitch report")
Q4 results: Private sector banks post 9.7% decline in net profit
Axis Bank's one-time charge for Citibank's consumer biz buy has dented the numbers
 "Q4 results: Private sector banks post 9.7% decline in net profit")
At record 795 tonnes, RBI's gold reserves see sharp on-year spike
Share of foreign currency assets in overseas securities rises to 81% by March
 "At record 795 tonnes, RBI's gold reserves see sharp on-year spike")
Share of foreign currency assets in overseas securities rises to 81%
RBI's gold reserves rise to 794.64 tonne at the end of March
 "Share of foreign currency assets in overseas securities rises to 81%")
Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC
Earlier in April, the central bank had imposed penalties totalling Rs 44 lakh on four cooperative banks
 "Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC")
Canara Bank Q4 profit up 90.6% at Rs 3,175 cr, robust NII boosts growth
State-owned lender's board recommends dividend of Rs 12 per share for FY23
 "Canara Bank Q4 profit up 90.6% at Rs 3,175 cr, robust NII boosts growth")
Seeing stress in MSME sector... had slippages of Rs 3K cr: A Manimekhalai
MSMEs showing signs of stress, says A Manimekhalai, managing director and chief executive, Union Bank of India
 "Seeing stress in MSME sector... had slippages of Rs 3K cr: A Manimekhalai")
Bank of India Q4 net more than doubles to Rs 1,350 cr on improvement in NII
BOI's capital adequacy ratio stood at 16.28 per cent with the Common Equity Tier of 13.6 per cent at the end of March
 "Bank of India Q4 net more than doubles to Rs 1,350 cr on improvement in NII")
Union Bank's Q4 net rises 93.3% to Rs 2,782 cr on healthy growth in NII
The board of directors has recommended a dividend of Rs 3.0 per share (Rs 10 each) for FY23, subject to shareholders' approval, the Mumbai-based lender informed BSE
 "Union Bank's Q4 net rises 93.3% to Rs 2,782 cr on healthy growth in NII")
Manappuram Finance faces reputational risk amid probe, says S&P
May impact investor confidence, Stock tanks 11.45% on BSE
 "Manappuram Finance faces reputational risk amid probe, says S&P")
Piramal Enterprises posts Q4 loss of Rs 196 cr on MTM hit of Rs 375 cr
Jairam Sridharan is the Managing Director, Piramal Capital & Housing Finance (PCHFL) told media that the loss on Shriram Investments has partly gone away after March 31, 2023
 "Piramal Enterprises posts Q4 loss of Rs 196 cr on MTM hit of Rs 375 cr")
RBI launches G20 TechSprint competition to improve cross-border payments
RBI in a statement said it along with BIS would invite global innovators to help develop innovative technology solutions for cross-border payments
 "RBI launches G20 TechSprint competition to improve cross-border payments")
HDFC Bank plans 675 branches in semi-urban, rural areas in 14 months
As of March 31, the bank had 52 per cent of its 7,821 branches in semi-urban and rural locations
 "HDFC Bank plans 675 branches in semi-urban, rural areas in 14 months")