Topic: Lakshmi Vilas Bank
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.
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”.
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
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.
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.