 "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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CMS Info Systems aims 3 times revenue of Rs 5,000-crore by FY30
It is looking to start new business lines like collection and recover services
 "CMS Info Systems aims 3 times revenue of Rs 5,000-crore by FY30")
Better net interest margins likely to help bottom line of banks in Q4
Net profit of listed commercial banks is projected to grow by 43.6% YoY
 "Better net interest margins likely to help bottom line of banks in Q4")
Monetary policy: Bond yields soften after RBI hits pause on rate hike
The 10 year g-sec yield is expected to be at 7.0 per cent as against 7.21 per cent currently by end March 2024
 "Monetary policy: Bond yields soften after RBI hits pause on rate hike")
RBI allows rupee non-deliverable forex derivative contracts to residents
Step will help develop onshore Indian rupee NDDC and provide residents with the flexibility to design hedging programmes
 "RBI allows rupee non-deliverable forex derivative contracts to residents")
ESAF SFB to refile IPO prospectus with Sebi; eyes listing in H2 of FY24
Pegs capital need at Rs 1,000 cr for three years
 "ESAF SFB to refile IPO prospectus with Sebi; eyes listing in H2 of FY24")
FY23 bank credit growth highest since FY12, up 15%, shows RBI data
Banks were engaged in intense competition by offering higher interest rates on term money to mop up funds
 "FY23 bank credit growth highest since FY12, up 15%, shows RBI data")
Share of low-cost money in bank deposits dips in FY23 amid clamour for FDs
Ease of movement of funds on digital platforms and deployment of money by businesses from current accounts also played a role in pruning the share of CASA money
 "Share of low-cost money in bank deposits dips in FY23 amid clamour for FDs")
Vedanta unit's ability to raise loans reduces liquidity risk for group: S&P
Natural resources group has debt servicing obligations of about $3 bn
 "Vedanta unit's ability to raise loans reduces liquidity risk for group: S&P")
Mahindra Finance assets grow 27% in FY23 on strong credit offtake
Credit quality improves as stage-3 assets dip to 4.6%
 "Mahindra Finance assets grow 27% in FY23 on strong credit offtake")
India Inc's credit quality outlook positive for FY24, say Crisil and Icra
Interest rate hikes, global slowdown, stubborn inflation pose risk
 "India Inc's credit quality outlook positive for FY24, say Crisil and Icra")
Banks tier II bond issuance surges 3.5 times in FY23, shows data
The issuance of tier II as well as Tier I bonds was marked by increase in the coupon on instruments reflecting hardening of interest rates and tight liquidity
 "Banks tier II bond issuance surges 3.5 times in FY23, shows data")
India Inc's credit profile shows robust performance in Fy23: India Ratings
Sustained deleveraging, continued revenue, profitability growth boost rating
Benchmark G-sec yields close lower at FY23 end vis-a-vis Dec 2022
Shields banks from adverse impact from bond portfolio
 "Benchmark G-sec yields close lower at FY23 end vis-a-vis Dec 2022")
India's current account deficit declines to 2.2% of GDP in Q3FY23
Private transfer receipts, mainly representing remittances from Indians employed overseas, amounted to $30.8 billion, an increase of 31.7 per cent per cent YoY
 "India's current account deficit declines to 2.2% of GDP in Q3FY23")
RIL shareholders to meet on May 2 on demerger of financial services biz
Demerger expected to create a behemoth in financial services space
 "RIL shareholders to meet on May 2 on demerger of financial services biz")
CRISIL lowers outlook on Adani Airport Holdings from 'stable' to 'negative'
The outlook revision indicates that the standalone credit profile of AAHL may weaken
 "CRISIL lowers outlook on Adani Airport Holdings from 'stable' to 'negative'")
Punjab National Bank board nod to raise Rs 12,000 cr in capital in FY24
It would raise capital by issuing AT-1 bonds upto Rs 7,000 crore and tier- II Bonds up to Rs 5,000 crore, in one or more tranches
 "Punjab National Bank board nod to raise Rs 12,000 cr in capital in FY24")
Capital adequacy ratio norms enforcement for UCBs advanced to FY23-end
According to UCB executives, the RBI's move may put banks in a difficult position as only a few days are left to refigure the norms' enforcement
 "Capital adequacy ratio norms enforcement for UCBs advanced to FY23-end")
CRISIL revises outlook on Vedanta's loans from 'stable' to 'negative'
The change reflects the possibility of higher-than-expected financial leverage and lower financial flexibility with reducing ratio of cash surplus to one-year maturities for FY23 and FY24
State govt mkt borrowings up 8% YoY to Rs 7.6 trn with last auction of FY23
14 states, one UT raise Rs 41,200 cr, amount is 67% higher than that indicated for State Government Securities (SGS) for this week in the Q4FY23 auction calendar