 "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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Flows into NRI deposits up 76% to $5.4 billion in April-December
Outstanding amounts stable in December compared to November
 "Flows into NRI deposits up 76% to $5.4 billion in April-December")
PNB to raise Rs 800 cr in AT1 bond, instrument has 'AA+' from India Ratings
The Delhi-based lender has board approvals in place to raise Rs 12,000 crore in capital in FY23 through bond issuances
 "PNB to raise Rs 800 cr in AT1 bond, instrument has 'AA+' from India Ratings")
S&P puts Adani Transmission's ESG rating under review on governance issues
Will closely monitor developments, including any investigations by the Indian regulators and any additional disclosures by the Adani group, S&P said in a statement
 "S&P puts Adani Transmission's ESG rating under review on governance issues")
IndoStar Capital Chief Executive Deep Juggi quits after short stint
Company elevates Chief Risk Officer K Srinivasan as CEO
 "IndoStar Capital Chief Executive Deep Juggi quits after short stint")
Moody's affirms Baa1 rating for TCS, Infosys, sees growth slowing in FY24
IT services companies expected to maintain businesses growth and market position
 "Moody's affirms Baa1 rating for TCS, Infosys, sees growth slowing in FY24")
PSBs write off Rs 29,000 cr in Q3FY23 as part of a clean-up exercise
According to estimates by rating agency CARE Ratings, the write-offs by PSBs in April-December 2022, at Rs 81,000 crore, were lower than the Rs 90,000 crore in April-December 2021
 "PSBs write off Rs 29,000 cr in Q3FY23 as part of a clean-up exercise")
Fusion Microfinance sees asset growth moderating as pent-up demand tapers
Expects to NIMs to improve to 11.3-11.5% from 10.3%
 "Fusion Microfinance sees asset growth moderating as pent-up demand tapers")
State Bank of India expects moderation in growth in global books
The foreign office advances were up by 21.47 per cent year on year (YoY) basis to Rs 4.86 trillion in December 2022 from Rs 4.0 trillion in December 2021
 "State Bank of India expects moderation in growth in global books")
Rehaul rules to improve financing Indian green projects: Fitch unit
In a report listing steps to revise the framework, the unit of Fitch Ratings said implementing public-sector credit guarantees would help lower financing costs
 "Rehaul rules to improve financing Indian green projects: Fitch unit")
Manappuram Finance plans to rope in private equity player for MFI unit
Manappuram holds about 98 per cent stake in Micro finance subsidiary
 "Manappuram Finance plans to rope in private equity player for MFI unit")
Q3 results: PSBs' net profit jumps 66% on healthy interest margins
Other income rises in Q3 against contraction in Q2
 "Q3 results: PSBs' net profit jumps 66% on healthy interest margins")
Indian banks' NIM to contract in FY24 as deposit costs rises: Fitch
Lenders should be able to offset impact by gradually passing on policy rate hikes to corporate loans: Agency
Govt gets 33% stake in Vodafone Idea, promoters to invest as well
Centre clears Rs 16,133-crore dues conversion into equity
 "Govt gets 33% stake in Vodafone Idea, promoters to invest as well")
State Bank of India books over Rs 14,000-cr profit in its best performance
A healthy rise in NII and a sharp drop in credit costs boost bottom-line
S&P revises Adani Ports, Adani Electricity outlook from stable to negative
Both run risk of deterioration in credit profile, says agency; Fitch doesn't see immediate impact
 "S&P revises Adani Ports, Adani Electricity outlook from stable to negative")
No immediate impact from Hindenburg on Adani firms' credit profiles: Fitch
Rating agency will be monitoring group firms closely for major changes in their access to finance, the cost of financing, regulatory/legal developments and ESG-related matters
 "No immediate impact from Hindenburg on Adani firms' credit profiles: Fitch")
Ratings of Adani group entities under continuous surveillance: CRISIL
Corporate governance, decline in fundraising capability under scanner
 "Ratings of Adani group entities under continuous surveillance: CRISIL")
HDFC Q3 net profit rises 13% to Rs 3,691 crore, impairments decline
Monetary policy, interest rate actions had short-term impact on net interest income, says mortgage major
 "HDFC Q3 net profit rises 13% to Rs 3,691 crore, impairments decline")
Aditya Birla Capital's Q3 net up 27% YoY as retail, SME lending grows
Strong performance across businesses help 40% YoY growth in lending book
 "Aditya Birla Capital's Q3 net up 27% YoY as retail, SME lending grows")
Budget 2023: Credit Guarantee Scheme for MSMEs gets Rs 9,000-cr boost
This is expected to reduce the cost of credit by 1 per cent for MSMEs, said Union Finance Minister Nirmala Sitharaman
 "Budget 2023: Credit Guarantee Scheme for MSMEs gets Rs 9,000-cr boost")