In the December quarter, slower consumer demand and risk aversion to unsecured loans have led banks to report slower credit growth compared to deposit growth. HDFC Bank’s deposits surged 15% year-on-year while its loan growth was at 3%. Only IDBI Bank and IndusInd Bank saw loan growth outpace deposits.
ONGC picks BP as tech partner for Western Offshore fields
BP already has a similar arrangement for ONGC’s flagship Mumbai High fields, but the latest move significantly expands its role, making it responsible for helping