India (National)
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Atmadip Ray's coverage is heavily focused on finance and economy, particularly within the Indian context. He often reports on RBI policies, banking system performance, IPOs, and economic growth in India. Given this focus, he would likely be interested in insights from financial experts with a deep understanding of the Indian market dynamics and regulatory frameworks.
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By: Atmadip Ray
Indian diaspora withdrew nearly two billion dollars from local banks in March. This withdrawal was driven by geopolitical conflicts in West Asia. NRI deposits saw an annual contraction in the fiscal year. Experts anticipate a more significant impact on NRI deposits if uncertainties persist. Outflows were noted in NRERA and NRO accounts, while FCNR(B) accounts remained stable.
Central Bank of India shares fell sharply after the government initiated an 8% stake sale through an offer for sale at a floor price of Rs 31. Investors reacted despite the lender reporting strong annual profit growth and healthy expansion in advances.
Overseas Indians withdrew nearly two billion dollars from Indian bank accounts in March. This outflow occurred during the Iran war. Reserve Bank of India data shows a contraction in Non-Resident Indian deposit inflows. Experts anticipate geopolitical uncertainties will impact NRI deposits further if conflicts persist. Withdrawals were seen in Non-Resident External Rupee Accounts and Non-Resident Ordinary accounts.
Satin Creditcare Network has secured $20 million through dollar-denominated bonds from BlueOrchard Microfinance Fund. This private placement, featuring a SOFR-linked coupon, marks Satin's first overseas bond issuance this fiscal. The blended cost, influenced by hedging expenses, is slightly under 11%.
Kolkata: Non-bank lenders last month expanded their loan share in the microfinance segment that, however, shrank in aggregate due to a 5% month-on-month
By: Atmadip Ray
Karur Vysya Bank is set for significant growth. The bank plans to expand its balance sheet by entering the credit card business and offering loans against mutual funds. A renewed focus on microloans and increasing corporate lending are also key strategies. These initiatives aim to diversify revenue streams and boost overall expansion.
By: Atmadip Ray
After a decade of downsizing the wholesale business, Karur Vysya now plans to reverse it by raising the corporate loan share to 20% in the next two years from 14% at present. It also plans to enter into the credit card business, and loans against mutual funds are on the cards, too, as is a renewed focus on microloans.
The Reserve Bank of India earned ₹1.69 lakh crore from foreign exchange transactions in FY26, up 52% from the previous year, as it sold a record $53.13 billion from forex reserves to support the rupee amid a 9.5% depreciation. RBIs total foreign income rose 27% to ₹3.28 lakh crore, helped by higher returns from foreign securities, while domestic income increased 26% to ₹1 lakh crore due to higher interest on rupee securities.
Bank credit is growing faster than deposits. Lending to industries is slowing down due to global uncertainties. Loans against gold jewellery are still increasing, though at a slightly slower pace. Overall, banks are seeing a shift in their lending patterns. This trend is expected to continue with moderating credit growth this fiscal.
By: Atmadip Ray
Tamil Nadu saw a 2.3% quarter-on-quarter squeeze in the state's microfinance outstanding portfolio to Rs 38,900 crore at the end of March, while Karnataka recorded a mere 1.1% growth during the period, data from credit information company Crif High Mark showed. Karnataka had outstanding microfinance loans of Rs 28,600 crore at March-end.
