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).
Page 161 - Abhijit Lele/workspace/business Standard Web/video
India to rely on next fiscal year's budget for oil subsidies: Fitch
Budgetary provisions insufficient; underrecoveries pegged at Rs 140,000 cr
 "India to rely on next fiscal year's budget for oil subsidies: Fitch")
Bond yields harden on higher reading on inflation
Partial devolvement at bond auction on primary dealers
 "Bond yields harden on higher reading on inflation")
State-run banks see NPA slippage in Q2
SBI saw the highest growth in NPAs, at Rs 3,314 cr, followed by Rs 2,284 cr for United Bank of India. Punjab National Bank's NPAs rose by Rs 1,436 cr
 "State-run banks see NPA slippage in Q2")
SBI likely to report 24% fall in Q2 net on bad loans, MTM losses
Notably, this will be the third quarter in a row wherein the net profit will fall on a year-on-year basis
 "SBI likely to report 24% fall in Q2 net on bad loans, MTM losses")
ABG Shipyard to recast long-term debts
ICICI Bank, SBI, IDBI, Bank of India, Bank of Baroda and Punjab National Bank are among major lenders to ship-building company
 "ABG Shipyard to recast long-term debts")
ABG Shipyard heads for recast of long-term debt
Move driven by overall economic slowdown; bankers wary as this follows the Rs 5,860-cr recast of company's peer, Bharati Shipyard
Sivasankaran's wind power firm hits IDBI with Rs 300-cr bad debt
After Rs 1,800-cr telecom loss, wind power firm's bankruptcy deals another blow to billionaire C Sivasankaran
 "Sivasankaran's wind power firm hits IDBI with Rs 300-cr bad debt")
Banks must issue TDS certificates to customers in time
Banks must issue such certificates to customers whose I-T deducted at source within time-frame of ncome tax rules
 "Banks must issue TDS certificates to customers in time")
RBI asks finance cos to migrate to accepting only CTS-2010 cheques
NBFCs should not accept fresh or post dated cheques (old or CTS 2010 compliant) in locations where ECS available
Banks seek swap for interest portion of FCNR (B) deposits
Officials of the finance ministry and RBI would discuss the swap arrangement for the interest portion
 "Banks seek swap for interest portion of FCNR (B) deposits")
Religare Finvest reduces corporate loan exposure to tackle rising slippages
Considering the lumpiness of the loan book and a weak business environment, delinquencies could continue to increase and be volatile, says Icra
 "Religare Finvest reduces corporate loan exposure to tackle rising slippages")
Jalan panel to finish vetting bank licence bids in 3 months
RBI is checking the primary eligibility of the 26 applicants. Once the process is completed, comments will be passed on to the Bimal Jalan panel
 "Jalan panel to finish vetting bank licence bids in 3 months")
Bank of India Q2 net up 106% at Rs 622 cr
Gross non performing assets declined to 2.93% from 3.42% a year ago
 "Bank of India Q2 net up 106% at Rs 622 cr")
RBI takes steps to make system consumer friendly
Decides to implement recommendations of FSLRC which deal with consumer protection, capacity building
 "RBI takes steps to make system consumer friendly")
Crisil cuts rating on Allahabad Bank's tier I & II bonds
It also revised rating outlook on Allahabad Bank's lower tier II bonds to 'negative' from 'Stable' and reaffirmed rating at AA+
 "Crisil cuts rating on Allahabad Bank's tier I & II bonds")
CRISIL downgrades Allahabad Bank's tier I & II bonds
Says bank's profitability will continue to be adversely impacted given the asset quality challenges
Moody's review meet with SBI brass this week
New ratings on par with rating for its owner govt's (Baa3 stable) foreign currency bonds
 "Moody's review meet with SBI brass this week")
FM to grill govt banks' chiefs tomorrow
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
 "FM to grill govt banks' chiefs tomorrow")
Coastal Projects set to restructure Rs 3,700-cr debt
Company has high debt; they are looking at number of options including equity raising
 "Coastal Projects set to restructure Rs 3,700-cr debt")
Corporation Bank's new CMD sets clear agenda
Raise share of low cost deposits, control slippages, improve asset quality
 "Corporation Bank's new CMD sets clear agenda")