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.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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