Manojit Saha
 "Manojit Saha")
Manojit Saha
Manojit Saha is the Banking Editor at Business Standard based in Mumbai, tracking the financial sector for over two decades, with a focus on central bank and monetary policy making. He also contributed to Business Standard’s digital offering – The Banking Show – with interviews with business leaders, CEOs, and important policymakers. He anchored panel discussions comprising CEOs from banking, insurance, NBFCs and fintech industry for the Business Standard BFSI Insight Summit, Business Standard-IMGC India Mortgage Leadership Conclave, among others.
Manojit Saha is the Banking Editor at Business Standard based in Mumbai, tracking the financial sector for over two decades, with a focus on central bank and monetary policy making. He also contributed to Business Standard’s digital offering – The Banking Show – with interviews with business leaders, CEOs, and important policymakers. He anchored panel discussions comprising CEOs from banking, insurance, NBFCs and fintech industry for the Business Standard BFSI Insight Summit, Business Standard-IMGC India Mortgage Leadership Conclave, among others.
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Capital SFB aims to comply with conversion norms in 12-18 months
Capital SFB is not yet eligible to apply for a conversion to a universal bank because of net non-performing ratio
 "Capital SFB aims to comply with conversion norms in 12-18 months")
RBI maintains status quo, raises FY25 GDP growth forecast to 7.2%
Economists see shallow rate cut in Oct-Dec quarter
 "RBI maintains status quo, raises FY25 GDP growth forecast to 7.2%")
Bajaj Housing Finance board approves IPO to raise Rs 4,000 crore
The IPO would include a sale of shares by existing shareholders
 "Bajaj Housing Finance board approves IPO to raise Rs 4,000 crore")
Why small finance banks are in no hurry to become universal banks
The fear of rejection is real. Many of the SFBs are listed on the exchanges. They are aware that no new universal bank licence has been granted in the last 10 years
 "Why small finance banks are in no hurry to become universal banks")
Tracking the rise of Reserve Bank of India's physical gold reserves
In the annual report for 2023-24, RBI has said - of the 514.07 metric tonne of gold held as asset of Banking Department, 100.28 metric tonnes held in India and 413.79 metric tonnes held abroad
 "Tracking the rise of Reserve Bank of India's physical gold reserves")
Rs 500 note now 86.5% of currency in circulation by value: RBI report
The increase in the share of the Rs 500 note coincides with the declining share of the Rs 2000 note, which was only 0.2 per cent at the end of FY23
 "Rs 500 note now 86.5% of currency in circulation by value: RBI report")
RBI plans regulations to bolster financial sector, says annual report
Measures to be more principle-based rather than entity-oriented
 "RBI plans regulations to bolster financial sector, says annual report")
'Climate shocks' add uncertainty to inflation outlook: RBI annual report
Central bank highlights trading risks and, high reliance on bulk deposits of banks
 "'Climate shocks' add uncertainty to inflation outlook: RBI annual report")
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
US Treasuries behind RBI's Rs 2.1 trillion bumper surplus to Centre
Dollar sale also helped; Such high surplus likely to be one-off
 "US Treasuries behind RBI's Rs 2.1 trillion bumper surplus to Centre")
Windfall for govt as RBI transfers record Rs 2.1 trillion for FY24
Higher income both from domestic and foreign assets; Increases contingency buffer to 6.5%
Inflation seen closer to target in FY26: RBI's state of the economy report
The report says there is a growing optimism that India is on the cusp of a long-awaited economic take-off
 "Inflation seen closer to target in FY26: RBI's state of the economy report")
RBI in talks with Sebi to allow mutual funds to sell debt to ARCs
ARCs are not allowed to buy debts from MFs currently
 "RBI in talks with Sebi to allow mutual funds to sell debt to ARCs")
Ujjivan SFB board to decide universal bank transition timelines in FY25
Ujjivan SFB's gross and net NPA ratio were 2.1 per cent and 0.3 per cent in March 2024. The ratios were at 2.6 per cent and 0.4 per cent as on March 2023
 "Ujjivan SFB board to decide universal bank transition timelines in FY25")
Have no immediate requirement to be a universal bank: Suryoday SFB MD & CEO
Ramachandran says it is at least two years before the lender considers becoming a universal bank
 "Have no immediate requirement to be a universal bank: Suryoday SFB MD & CEO")
The 'default' path: PSBs classify Reliance Infrastructure's SPV as NPA
The agency also downgraded the long-term rating to C from B on a Rs 15.61 crore loan
 "The 'default' path: PSBs classify Reliance Infrastructure's SPV as NPA")
PSB loan growth lags industry; cautious approach to protect margins
According to RBI, the share of external benchmark linked loans (EBLR) in total outstanding floating rate loans increased to 56.2 per cent as at end-December 2023 from 49.6 per cent in March 2023
 "PSB loan growth lags industry; cautious approach to protect margins")
RBI set to meet ARCs on May 17; may discuss borrowing, settlement process
At present, there are no regulatory mechanisms in place for such funding
 "RBI set to meet ARCs on May 17; may discuss borrowing, settlement process")
RBI urges gold loan NBFCs to strictly comply with norms amid biz surge
RBI took stock of the gold loan business of non-banking finance companies after one of them - IIFL Finance faced regulatory restriction for violating norms
 "RBI urges gold loan NBFCs to strictly comply with norms amid biz surge")
India Inc including NBFCs files ECB intent worth $7.73 billion in March
Amongst prominent companies which filed intent include private steel producer JSW Steel - $ 900 million, public sector power sector unit NTPC - $ 745.2 million and Power Finance Corporation - $ 450 mn
 "India Inc including NBFCs files ECB intent worth $7.73 billion in March")
