Abhijit Lele

All stories by Abhijit Lele

HDFC Bank writes off Rs 3,100-crore NPAs in Q1

HDFC Bank writes off Rs 3,100-crore NPAs in Q1

Rediff.com19 Jul 2021

The country's largest private lender HDFC Bank's bad-loan write-offs doubled to Rs 3,100 crore in the April-June quarter (first quarter, or Q1) of 2021-22 (FY22), from the level of Rs 1,500 crore in the same quarter of 2020-21 (Q1FY21). It also offloaded its non-performing assets (NPAs) amounting to Rs 1,800 crore in Q1FY22 to maintain a robust asset quality profile. It had jettisoned NPAs worth Rs 1,000 crore in the last quarter. Lenders knock off stress assets from books after making full provisions. Their right to recover dues from delinquent borrowers remains intact after the write-downs.

'We'll have to live with branches for some time'

'We'll have to live with branches for some time'

Rediff.com15 Jul 2021

'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'

Carlyle Group to acquire controlling stake in PNB Housing Finance

Carlyle Group to acquire controlling stake in PNB Housing Finance

Rediff.com3 Jun 2021

Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.

IDBI Bank back in black in FY21 after five years

IDBI Bank back in black in FY21 after five years

Rediff.com5 May 2021

The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.

Negative outlook list may get longer, Q1 biz to be hit

Negative outlook list may get longer, Q1 biz to be hit

Rediff.com3 May 2021

At risk of entrenched rough times are sectors like hospitality and those with discretionary spends.

South Africa's FirstRand Bank to exit India after 12 years

South Africa's FirstRand Bank to exit India after 12 years

Rediff.com23 Apr 2021

The plan was to expand further, add more branches and also eventually become the third bank in India to start a wholly owned subsidiary after Singapore's DBS Bank and State Bank of Mauritius, but those plans never materialised due to lack of scale and rising non-performing assets in the country.

Singapore-based DBS Bank plans to trim India branches in 2-3 years

Singapore-based DBS Bank plans to trim India branches in 2-3 years

Rediff.com15 Feb 2021

The combined deposits of its Indian operations stood at SGD 9 billion and net advances were at SGD 5.6 billion at the end of December 2020.

'Economy well placed to capitalise on recovery in 2021'

'Economy well placed to capitalise on recovery in 2021'

Rediff.com6 Jan 2021

'The financial sector's performance in the first two quarters was a revelation.' 'It clearly showed the clean-up had been done in the past one-and-a-half years and that capital brought in was significantly stronger.'

From loan moratorium to digitisation, 2020 saw major shifts in banking

From loan moratorium to digitisation, 2020 saw major shifts in banking

Rediff.com30 Dec 2020

While lenders create a hype around the services offered on digital platforms, customers think otherwise, given that frustration due to the quality of service has only increased, over the years.

Why it makes sense to take personal loans from PSBs

Why it makes sense to take personal loans from PSBs

Rediff.com26 Dec 2020

The interest rate offered by PSBs like SBI, BoB and BoI hover around 8.9 per cent-10.50 per cent. For private banks, the range is between 10.49 per cent and 12 per cent.

PSBs may find it hard to raise money on asset quality, governance concerns

PSBs may find it hard to raise money on asset quality, governance concerns

Rediff.com21 Dec 2020

While the banks have cleaned up books and the space has seen consolidation after the merger exercise, the impact of big-ticket frauds of the past and the bad-loan burden remain an issue.

How SBI plans to keep YONO ahead of the curve

How SBI plans to keep YONO ahead of the curve

Rediff.com13 Oct 2020

Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.

Home, auto loan inquiry back to 2019 level

Home, auto loan inquiry back to 2019 level

Rediff.com23 Sep 2020

The public sector lenders saw the biggest rebound in inquiries in July and August 2020, most likely because they were early in recommencing operations than their private and finance counterparts.

'2 years is fair time for companies to come out of pain'

'2 years is fair time for companies to come out of pain'

Rediff.com17 Sep 2020

'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'

Challenges that Dinesh Khara, the new SBI chief faces

Challenges that Dinesh Khara, the new SBI chief faces

Rediff.com8 Sep 2020

Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.

Bonanza for overseas Indian investors; ODI norms to be eased

Bonanza for overseas Indian investors; ODI norms to be eased

Rediff.com27 Aug 2020

The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.

Yes Bank to take more 'Anil Ambani like steps' to recover dues

Yes Bank to take more 'Anil Ambani like steps' to recover dues

Rediff.com2 Aug 2020

Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.

HDFC to set up fund to finance stressed realty projects

HDFC to set up fund to finance stressed realty projects

Rediff.com7 Jul 2020

The real estate sector had been going through a rough phase even before the COVID-19 crisis, marked by falling sales and piling up of inventories.

YES Bank restructures salaries of senior leadership team

YES Bank restructures salaries of senior leadership team

Rediff.com1 Jun 2020

About 300 employees would come under the ambit of voluntary decision.

Covid-19 crisis: Slippages may jump to Rs 5.5 trillion

Covid-19 crisis: Slippages may jump to Rs 5.5 trillion

Rediff.com22 May 2020

The incremental stress is mainly from sectors including power, infrastructure, constructions, hospitality, iron and steel, telecom, and realty.

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