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Electronic board indicates the latest stock figures at the the National Stock Exchange in Mumbai. | Photographer: Dhiraj Singh | Bloomberg

Debt-laden Vodafone, Indiabulls & Glenmark likely to be taken out of MSCI index

The global index provider could remove sinking companies, brokers say, but is likely to add ICICI Prudential Life Insurance and Siemens this week.
File photo of people lining up outside an HDFC Bank ATM| Bloomberg

HDFC Bank’s value surges the most in the world despite India’s lending crisis

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.
A Laxmi Vilas Bank outlet | Commons

Indiabulls, Lakshmi Vilas Bank merger rejection fans new contagion risks

Indian taxpayers have already shouldered burden of a Rs 14 lakh crore bad loan problem at conventional banks. They can’t foot the bill again.
The Reserve Bank of India (RBI) logo is displayed inside the central bank building in Mumbai

RBI rejects proposed merger of Indiabulls and Lakshmi Vilas Bank

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

Yes Bank bonds slump to record low as shadow banking crisis continues

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.
File image of Prashant Bhushan | Commons

Delhi High Court seeks response to Indiabulls’ perjury plea against lawyer Prashant Bhushan

Shadow lender Indiabulls claimed advocate Prashant Bhushan made allegations of financial irregularities against the company without verifying facts.
The Indiabulls Finance Centre, developed by Indiabulls Real Estate Ltd., in Lower Parel, Mumbai | Dhiraj Singh | Bloomberg

Indiabulls, hurting from share slide, seeks to bring forward court date on fraud charges

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.
PMC bank put under direction by RBI

PMC Bank crisis exposes failure of Indian regulators

Only 54 big lenders are monitored by RBI & investors are now trying to figure out whether they pose new threat to banking system hobbled by bad loans.
A man stands outside the Bombay Stock Exchange building in Mumbai | Dhiraj Singh/Bloomberg

Indiabulls’ shares drop record 38% after RBI places restrictions on 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 Indiabulls Finance Centre, developed by Indiabulls Real Estate Ltd., in Lower Parel, Mumbai | Dhiraj Singh | Bloomberg

Indiabulls and Lakshmi Vilas bank, in talks to merge, face investigation over alleged fraud

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.

On Camera

File photo | An employee inspects a godown of Food Corporation of India (FCI) where rice bags are being stored during a nationwide lockdown, in Srinagar | PTI

FCI has highest rice, wheat stock since 2005. Modi govt continuing legacy of bad economics

It is clear from the rising stock of rice and wheat that the government has been buying more from farmers than what it requires during a pandemic.
Representational image | Picpedia

Modi govt drops plan to merge 3 state-owned general insurance companies

Decision to merge the 3 companies — National Insurance Co Ltd, United India Insurance Co Ltd, and Oriental Insurance Co Ltd — ahead of their proposed listing was announced in 2018 budget.

Defence

A file photo of Pangong Lake in Ladakh | Visharad Saxena | Special arrangement

There’s ‘thinning down’ of Chinese troops at Finger 4 at Pangong lake, but no pullback yet

India-China disengagement at Pangong lake will be a focus area in the next round of military talks at the corps commander level. 
Central Reserve Police Force (CRPF) men in Maharashtra | ANI

Read my lips, forget the camera

Say Central forces' angry soldiers. They need reform, committed leaders. And very sensitive handling.