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Yet another financial institution has failed and is being rescued. The Reserve Bank of India on Tuesday proposed to merge Lakshmi Vilas Bank with the Indian subsidiary of Singapore-based DBS Bank.
In the context of another bank failure, our lead editorial notes the central bank is trying its best to improve the entire supervision framework, something that’s urgently needed for taking quick corrective action in such cases.
Other opinion pieces for the day talk about the US-China relations and contract enforcement in India.
In any event, Joe Biden should have no illusions: China is too important to ignore, but the challenge it presents defies easy solutions. America and the world should brace themselves for the long haul, writes Arvind Subramanian
The empowered group of ministers would do well to remember that the delay in taking a stand on Vodafone arbitration issue is keeping concerns of many foreign investors alive, writes Shyamal Majumdar
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