BANDAR SERI BEGAWAN, Oct 6 (Reuters) - Ministers of the Association of Southeast Asian Nations (ASEAN) are discussing not inviting junta leader Min Aung Hlaing to an upcoming leaders' summit, the grouping's special envoy to the country said on Wednesday.

The envoy, Erywan Yusof, Brunei's second foreign affairs minister, told a news conference that Myanmar's junta had not made progress on an ASEAN peace roadmap.

He added that the junta had not directly responded to his requests to meet detained former leader Aung San Suu Kyi, whose government the military overthrew in February. (Reporting by Ain Bandial; Writing by Martin Petty)

BANDAR SERI BEGAWAN, Oct 6 (Reuters) - Ministers of the Association of Southeast Asian Nations (ASEAN) are discussing not inviting junta leader Min Aung Hlaing to an upcoming leaders' summit, the grouping's special envoy to the country said on Wednesday.

The envoy, Erywan Yusof, Brunei's second foreign affairs minister, told a news conference that Myanmar's junta had not made progress on an ASEAN peace roadmap.

He added that the junta had not directly responded to his requests to meet detained former leader Aung San Suu Kyi, whose government the military overthrew in February. (Reporting by Ain Bandial; Writing by Martin Petty)

By Ira Dugal

MUMBAI, Nov 3 (Reuters) - Kotak Mahindra Bank Ltd , India's fourth-largest private lender, sees tepid demand for corporate credit even though conditions to lend to companies have improved, a top company executive told Reuters in an interview.

The credit environment has never looked better, KVS Manian, group president in charge of wholesale banking, institutional & investment banking and wealth management business at Kotak Mahindra Bank, said on Wednesday. But demand from corporate borrowers is still not very strong, he said.

Indian corporations have deleveraged their balance sheets significantly over the past few years by raising equity and refinancing high-cost debt. This has opened opportunities for banks, which have seen growth coming mostly from retail lending in recent years.

Bank credit rose 19% year-over-year during the fortnight ending Oct. 20, according to Reserve Bank of India data.

Sector-wise data available until September shows that credit to industries rose 12.6% year-on-year, with small- and mid-sized corporates recording stronger growth.

"We are seeing opportunities in sectors like cement, steel, renewable energy, roads, and chemicals. In these five sectors, there is some capacity creation and therefore credit demand," said Manian.

"We are yet to see secular increase in demand for credit across sectors."

Lending to small-and-medium-sized businesses, though, has risen, aided by the government's emergency credit guarantee scheme launched during the COVID-19 crisis, which helped stabilize the sector.

Kotak Mahindra Bank loaned 140 billion rupees ($1.69 billion) under this scheme, with low defaults.

MISPRICING RISK

Banks in India are required to lend a certain percentage of their overall advances to priority sectors such as agriculture and small businesses.

But, Manian warned that corporate loans could be mispriced as a large number of banks chase

By Ira Dugal

MUMBAI, Nov 3 (Reuters) - Kotak Mahindra Bank Ltd , India's fourth-largest private lender, sees tepid demand for corporate credit even though conditions to lend to companies have improved, a top company executive told Reuters in an interview.

The credit environment has never looked better, KVS Manian, group president in charge of wholesale banking, institutional & investment banking and wealth management business at Kotak Mahindra Bank, said on Wednesday. But demand from corporate borrowers is still not very strong, he said.

Indian corporations have deleveraged their balance sheets significantly over the past few years by raising equity and refinancing high-cost debt. This has opened opportunities for banks, which have seen growth coming mostly from retail lending in recent years.

Bank credit rose 19% year-over-year during the fortnight ending Oct. 20, according to Reserve Bank of India data.

Sector-wise data available until September shows that credit to industries rose 12.6% year-on-year, with small- and mid-sized corporates recording stronger growth.

"We are seeing opportunities in sectors like cement, steel, renewable energy, roads, and chemicals. In these five sectors, there is some capacity creation and therefore credit demand," said Manian.

"We are yet to see secular increase in demand for credit across sectors."

Lending to small-and-medium-sized businesses, though, has risen, aided by the government's emergency credit guarantee scheme launched during the COVID-19 crisis, which helped stabilize the sector.

Kotak Mahindra Bank loaned 140 billion rupees ($1.69 billion) under this scheme, with low defaults.

MISPRICING RISK

Banks in India are required to lend a certain percentage of their overall advances to priority sectors such as agriculture and small businesses.

But, Manian warned that corporate loans could be mispriced as a large number of banks chase

By Ira Dugal

MUMBAI, Nov 3 (Reuters) - Kotak Mahindra Bank Ltd , India's fourth-largest private lender, sees tepid demand for corporate credit even though conditions to lend to companies have improved, a top company executive told Reuters in an interview.

The credit environment has never looked better, KVS Manian, group president in charge of wholesale banking, institutional & investment banking and wealth management business at Kotak Mahindra Bank, said on Wednesday. But demand from corporate borrowers is still not very strong, he said.

Indian corporations have deleveraged their balance sheets significantly over the past few years by raising equity and refinancing high-cost debt. This has opened opportunities for banks, which have seen growth coming mostly from retail lending in recent years.

Bank credit rose 19% year-over-year during the fortnight ending Oct. 20, according to Reserve Bank of India data.

Sector-wise data available until September shows that credit to industries rose 12.6% year-on-year, with small- and mid-sized corporates recording stronger growth.

"We are seeing opportunities in sectors like cement, steel, renewable energy, roads, and chemicals. In these five sectors, there is some capacity creation and therefore credit demand," said Manian.

"We are yet to see secular increase in demand for credit across sectors."

Lending to small-and-medium-sized businesses, though, has risen, aided by the government's emergency credit guarantee scheme launched during the COVID-19 crisis, which helped stabilize the sector.

Kotak Mahindra Bank loaned 140 billion rupees ($1.69 billion) under this scheme, with low defaults.

MISPRICING RISK

Banks in India are required to lend a certain percentage of their overall advances to priority sectors such as agriculture and small businesses.

But, Manian warned that corporate loans could be mispriced as a large number of banks chase