HDFC Bank’s market value surged by $21 billion over past year. Among 25 biggest lenders globally, no other stock commands a higher price relative to earnings.
Lakshmi Vilas Bank was recently placed under Prompt Corrective Action due to high level of bad loans & negative return on assets for two consecutive years.
Yes Bank is at the epicenter of rising stress in India’s credit markets, where last year's shock defaults by a major infrastructure lender led to strains at other shadow banks.
Indiabulls’ shares plunged after the Delhi High Court admitted a plea against the shadow lender and RBI placed restrictions on its acquisition target, Lakshmi Vilas Bank.
Indiabulls is also in legal hot water after the Delhi High Court agreed to hear a petition to investigate the company over allegations that it gave out “dubious loans”.
The merger is crucial for shadow lender Indiabulls, which is seeking to diversify its asset base, while Lakshmi Vilas bank needs to raise capital to meet regulatory norms.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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