Sitharaman Tuesday lauded the RBI’s efforts in steering the bailout of Lakshmi Vilas Bank by allowing a local unit of Singapore’s DBS Group Holdings Ltd. to buy the failed lender.
The withdrawal restrictions have also been lifted. Union Minister Prakash Javadekar said those responsible for deteriorating financial health of the bank would be penalised.
RBI has wisely decided to put Lakshmi Vilas Bank out of its misery. Better still, it’s called upon a foreign institution to take over assets & liabilities.
With no govt-led resolution plan yet, crisis-ridden Lakshmi Vilas Bank could get institutional investor support to raise fund. LIC, Aditya Birla Sun Life Insurance, Indiabulls are among its investors.
Countering insurgency needs the Pakistan Army to demonstrate a political will that ties leaders at the centre with those in the borderlands. But it may not have the imagination.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
21st edition of annual joint military exercise will be held from 1 to 16 September, aimed at sharing military tech, operational best practices & disaster relief coordination methods.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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