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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NPAs worth over Rs 4 trillion to be resolved by 2018 end: India Ratings
This is about 45 per cent of bad loans worth Rs 10.2 trillion standing in the books of the top 500 debt-heavy corporates
 "NPAs worth over Rs 4 trillion to be resolved by 2018 end: India Ratings")
Allahabad HC refuses interim relief to power firms from RBI directions
Banks will have to start resolution process for assets whose deadline is over
 "Allahabad HC refuses interim relief to power firms from RBI directions")
Rupee closes at new record low of 70.16 amid volatility in currency markets
Since the beginning of this year, it has declined by only 9.8%
 "Rupee closes at new record low of 70.16 amid volatility in currency markets")
May outward remittances just shy of $1 bn, up from $847 in year-ago period
Over $364 million went for travel, followed by $248.8 million for maintenance of close relatives and $178 million for education
 "May outward remittances just shy of $1 bn, up from $847 in year-ago period")
No impact of ownership change on debt-ridden IDBI Bank rating, says ICRA
The existing ratings factor is in the sovereign support
 "No impact of ownership change on debt-ridden IDBI Bank rating, says ICRA")
Bank of Maharashtra shareholders stand by CEO; shares slide 2%
Of total scam amount, deposit and loan fraud is to tune of Rs 10.83 bn banking and non-financial institutions-related fraud of Rs 7.11 bn debentures fraud of Rs 1.11 bn.
 "Bank of Maharashtra shareholders stand by CEO; shares slide 2%")
RBI moots legal entity identifier for bond, money markets by October end
RBI in its draft plan has said participants, other than individuals, undertaking transactions in the markets it regulates shall obtain LEI codes as in the schedule
 "RBI moots legal entity identifier for bond, money markets by October end")
BoB moves agricultural, digital banking and HR functions to Baroda
Forges alliance with IBM, Accenture for IT, data analytics
 "BoB moves agricultural, digital banking and HR functions to Baroda")
Piyush Goyal meets chief executives of 15 PSBs today to draw up road map
The government will discuss a road map that banks are supposed to prepare to strengthen their risk mechanism systems
 "Piyush Goyal meets chief executives of 15 PSBs today to draw up road map")
State Bank of India to offload NPAs worth over Rs 13 billion
According to information document placed on SBI website, Ankit Metals and Power with an exposure of around Rs 6.9 billion, is the largest among them
 "State Bank of India to offload NPAs worth over Rs 13 billion")
Fitch downgrades PNB's viability rating two notches as key ratio plunges
Decline in bank's core capitalisation was due to sharp spike in bad loans, including $2.2 bn in fraudulent deals reported in Feb, and related increase in credit costs
 "Fitch downgrades PNB's viability rating two notches as key ratio plunges")
Public sector banks approach RBI to stay out of prompt corrective action
At present, 11 out of 21 PSBs, which constitute about 20% of the market share, are already under the PCA framework
 "Public sector banks approach RBI to stay out of prompt corrective action")
PCA shadow on PNB, Canara, Union Bank; DFS to meet 11 executives today
The day-long meeting would be the first review of the banks after the RBI put them under PCA
PMO calls meet with Power Ministry, leading lenders on stressed assets
The banks are looking at several agencies, including the National Investment and Infrastructure Fund, to share the equity investment with them
 "PMO calls meet with Power Ministry, leading lenders on stressed assets")
HDFC Q4 net up 39% top Rs 28.5 bn on healthy net interest margins
Total dividend for FY18 Rs 20 per share; Net interest imcome up 13%, lender focuses strongly on affordable housing
 "HDFC Q4 net up 39% top Rs 28.5 bn on healthy net interest margins")
M&M plans to list Mahindra Rural Housing Finance on stock exchanges by 2020
Mahindra and Mahindra Financial Services (MMFS), holds 89 % stake in the housing finance company
 "M&M plans to list Mahindra Rural Housing Finance on stock exchanges by 2020")
Indian banks need to improve risk management, governance practices: S&P
Axis Bank's risk management is seen as weaker than that of private sector peer HDFC Bank Ltd
 "Indian banks need to improve risk management, governance practices: S&P")
Nabard to raise Rs 400 bn in FY19 via bonds, says chairman Harsh Bhanwala
Nabard would look at the feasibility of tapping Masala bonds, which would need Reserve Bank of India's nod
 "Nabard to raise Rs 400 bn in FY19 via bonds, says chairman Harsh Bhanwala")
Axis Bank board cuts short CEO's tenure, Shikha Sharma to stay on till Dec
Sharma joined Axis Bank in 2009 after heading ICICI Prudential Life Insurance; move comes after RBI's objection to fresh term
 "Axis Bank board cuts short CEO's tenure, Shikha Sharma to stay on till Dec")
IDBI's 30% stake sale in NSDL delayed; transaction may spill over to FY19
IDBI Bank has been selling non-core investments through 2017-18