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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Banks brace for coming pay rush with salary day approaching
Branch networks will give preference to pensioners and labourers for withdrawing money
 "Banks brace for coming pay rush with salary day approaching")
After RBI's CRR spanner, banks can't cut lending rates as much as expected
Scrambling to manage liquidity, lenders want compensation to tide over the crisis
 "After RBI's CRR spanner, banks can't cut lending rates as much as expected")
S&P rules out rating upgrade for SBI in 18-24 months
Affirms present ratings, maintains stable outlook; doesn't see upside potential, as it won't rate bank above sovereign
 "S&P rules out rating upgrade for SBI in 18-24 months")
Utkarsh Micro Finance gets RBI's final nod for SFB
The new SFB will be named as 'Utkarsh Small Finance Bank Ltd' and is likely to start banking operations in early 2017
 "Utkarsh Micro Finance gets RBI's final nod for SFB")
RBI's repo auction to inject Rs 2 lakh crore into the system
Move to provide banks the liquidity to meet the new CRR requirement announced this weekend
 "RBI's repo auction to inject Rs 2 lakh crore into the system")
Bond yields to rise on incremental CRR
About Rs 3.5 lakh cr came into bank coffers as deposits between Sept 16, 2016, and Nov 11, 2016
 "Bond yields to rise on incremental CRR")
Demonetisation: 55% of cash returned to SBI from beyond urban hubs
SBI got Rs 1.93 lakh cr from November 10-25 in cash deposits
 "Demonetisation: 55% of cash returned to SBI from beyond urban hubs")
Banks launch drive to open accounts for workers
Focus of financial inclusion expanded to cover every wage earner in a family from just taking banking services to households
 "Banks launch drive to open accounts for workers")
RBI opens vaults for banks to keep old notes
For specified bank notes deposited, the Central bank will afford credit to banks' current accounts
 "RBI opens vaults for banks to keep old notes")
Currency in circulation dips 20% in week ended Nov 18
Banks disbursed Rs 103,316 crore to customers through branches and ATMs between November 10 and November 18
 "Currency in circulation dips 20% in week ended Nov 18")
SBI cuts bulk deposit rates by 1.25-1.9%
SBI has total domestic deposits of Rs 17.68 lakh cr and bulk deposits account for 8% or Rs 1.4 lakh cr
 "SBI cuts bulk deposit rates by 1.25-1.9%")
Banks get Rs 5.4 lakh cr of scrapped notes, people withdraw over Rs 1 lakh cr
On November 8, 2016 the government had withdrawn legal tender status for old 500, and Rs 1,000 currency notes
 "Banks get Rs 5.4 lakh cr of scrapped notes, people withdraw over Rs 1 lakh cr")
Demonetisation: RBI gives small borrowers 60 extra days to repay credit
This relief applies to dues payable between November 1, 2016, and December 31, 2016
 "Demonetisation: RBI gives small borrowers 60 extra days to repay credit")
Strict rules for cash withdrawals for wedding
Customers can withdraw up to Rs 2.5 lakh in cash from their deposits to meet wedding-related expenses
 "Strict rules for cash withdrawals for wedding")
10% of withdrawn cash comes back in the system
According to data from the RBI, public have withdrawn Rs 1,03,316 cr from their accounts either over the counter or through ATMs between Nov 10 and Nov 18
 "10% of withdrawn cash comes back in the system")
Demonetisation impact: PSB stocks cash in on currency purge
Prices jump 6-22%; private lenders' shares slide 3-10%
 "Demonetisation impact: PSB stocks cash in on currency purge")
PSU bank stocks make the most of demonetisation move
Prices jump 6-22%; private lenders' shares slide 3-10%
 "PSU bank stocks make the most of demonetisation move")
CRISIL downgrades rating of Muthoot Fincorp's debt
Rating agency CRISIL has downgraded ratings for Muthoot Fincorp Ltd's (MFL) debt instruments and bank facilities to 'A-', from 'A'
 "CRISIL downgrades rating of Muthoot Fincorp's debt")
After State Bank of India, ICICI & HDFC Bank slash deposit rates
Bankers said rates are expected to reduce by up to 50 bps over the next few months
 "After State Bank of India, ICICI & HDFC Bank slash deposit rates")
SBI cuts deposit rates by 15 basis points
AXIS Bank reduces MCLR lending rate by up to 20 basis points