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.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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