Why is Indiabulls exiting real estate business? Is RBI the reason?

Promoters of Indiabulls Real Estate (IBRE) sold 12 percent out of 38.72 percent stake held by them in the company, as per media sources. This piece of news comes days after the group companyIndiabulls Housing Finance (IBHF), the fourth-largest housing finance company, announced its intent to merge with Lakshmi Vilas Bank (LVB), a Tamil Nadu-based old private bank. […]