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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.
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”.

On Camera

Representational image | Pixabay

Scuba divers are turning plastic waste in the oceans into Covid face masks

Diving organisation PADI has teamed up with a watersports clothing company to recycle bottles recovered from the ocean to make a range of face coverings.

Refining industry enters ‘age of consolidation’ with ‘catastrophic’ margins

A refinery thrives on the price difference between crude oil and fuels like gasoline, earning a profit that’s known in the industry as a cracking margin.

Defence

File image of Indian soldiers in Ladakh | By special arrangement

No de-escalation in Ladakh yet, but some forward movement could be expected this week

India and China have agreed on an initial de-escalation plan and a 72-hour observation window to make sure steps agreed upon have been taken on the ground.
Illustration by Soham Sen | ThePrint

It’s time for China, Pakistan, even India to rethink the fantasy Modi called expansionism

India, China and Pakistan all want territory from another. But it’s a pursuit doomed to fail as they can’t get it without annihilating the other.