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(VIDEO) Violence Erupts Across Mexico After Killing of Cartel Leader ‘El Mencho,’ Sparking Widespread Chaos
MEXICO CITY — Retaliatory violence exploded across Mexico on Monday following the killing of Nemesio Rubén Oseguera Cervantes, the powerful leader of the Jalisco New Generation Cartel known as “El Mencho,” as suspected cartel members torched vehicles, blocked highways and clashed with security forces in at least 20 states.
The unrest, which began almost immediately after the Mexican military confirmed Oseguera Cervantes’ death Sunday, has plunged parts of the country into chaos, with schools closed, businesses shuttered and foreign governments urging citizens to shelter in place. The wave of attacks has left dozens dead, including at least 25 members of Mexico’s National Guard in Jalisco alone, according to officials.
Oseguera Cervantes, 59, was fatally wounded during a high-risk military operation Sunday in Tapalpa, a small town in Jalisco state about two hours southwest of Guadalajara. The raid, carried out by special forces with support from the National Guard, Air Force and U.S. intelligence, aimed to capture the longtime fugitive. He died en route to Mexico City by air for medical treatment, along with two other injured cartel members, the Secretariat of National Defense said.
Four CJNG gunmen were killed at the scene, and authorities seized weapons, armored vehicles and other equipment. Three soldiers were wounded. Officials revealed that intelligence pinpointing Oseguera Cervantes’ location came from information provided by a romantic partner’s associate, who was detained Friday in Tapalpa.
El Mencho, founder and leader of the CJNG since around 2009, oversaw one of Mexico’s most violent and expansive criminal organizations. The cartel dominates fentanyl production and trafficking to the United States, methamphetamine manufacturing, cocaine distribution, extortion and fuel theft. Known for extreme brutality — including public mutilations and attacks on officials — the CJNG has been designated a foreign terrorist organization by the U.S. State Department, which offered up to $15 million for information leading to his capture.
The operation marked a major victory for Mexican authorities amid pressure from the incoming Trump administration to curb drug flows. U.S. Deputy Secretary of State Christopher Landau called it a “great development,” describing El Mencho as “one of the bloodiest and most ruthless drug kingpins.”
Retaliation was swift and coordinated. Cartel gunmen set up burning roadblocks, torched buses, banks, pharmacies and other businesses, and engaged in shootouts. Violence spread beyond Jalisco to states including Michoacán, Guanajuato, Colima and others, with reports of at least 26 deaths, including civilians such as a pregnant woman caught in crossfire.
In Puerto Vallarta, a key tourist destination in Jalisco, plumes of smoke rose over neighborhoods as vehicles burned and chaos unfolded near the airport. Licenciado Gustavo Díaz Ordaz International Airport suspended operations due to blocked access roads and security threats. Major airlines including Air Canada, United, Delta, Southwest and Alaska canceled or diverted flights, stranding hundreds of tourists. Air Canada advised passengers not to head to the airport, while U.S. carriers issued travel waivers.
The U.S. Embassy and State Department urged American citizens in Jalisco and other affected states to shelter in place, avoid travel and monitor local media. Canada and the UK issued similar warnings, with the British Foreign Office advising against non-essential travel to parts of Jalisco. Taxi and rideshare services halted in Puerto Vallarta, exacerbating difficulties for stranded visitors.
President Claudia Sheinbaum insisted that “peace, security and normalcy” were being restored, with federal forces deployed to key areas. However, analysts warned of potential escalation as CJNG factions vie for control or rivals exploit the power vacuum. Oseguera Cervantes’ son, Rubén Oseguera González (“El Menchito”), remains in U.S. custody after extradition in 2020, leaving succession uncertain.
The violence highlights ongoing challenges in Mexico’s drug war, now spanning nearly two decades with hundreds of thousands killed. While the takedown disrupts a major fentanyl pipeline, experts caution that cartels often splinter or reorganize after leadership losses, potentially leading to more bloodshed in the short term.
As unrest continued into Monday evening, authorities urged residents to stay indoors and report suspicious activity. Restoration of order in hard-hit regions could take days, with economic impacts looming for tourism-dependent areas like Puerto Vallarta.
Total advances increased by 16% year-on-year to Rs 15.53 lakh crore at the end of March 2026 led by a 24% growth in business banking and a 26% growth in the rural loan portfolio. Retail loans which constitute 50% of the loan book grew by 10% while corporate loans grew by 9% year on year.
NIM was little changed at 4.32% for the year ended March 2026. Net interest income (NII) or the difference between interest earned on loans and that paid for deposits, increased by 8% to Rs 22,979 crore in March 2026 from Rs 21,193 crore a year ago.
Executive director Sandeep Batra said the bank is monitoring the situation particularly due to the geopolitical uncertainties and will continue to focus on getting a higher wallet share of high quality customers.
A sharp drop in provisions contributed to the bank’s profit growth during the quarter. Provisions fell 90% to Rs 96 crore from Rs 891 crore a year ago. Batra said the large year on year fall in provisions reflected strong asset quality and healthy recoveries from the corporate book.
“Our credit costs normalised for agriculture book is under 50 basis points which is very healthy in the current environment. There were also some corporate recoveries from written off accounts during the quarter which helped,” Batra said.
Asset quality remianed stable with net NPA ratio at 0.33% on March 31, 2026 down from 0.39% a year ago. Recoveries and upgrades of NPAs, excluding write-offs and sale, were Rs 3,068 crore compared to Rs 3,817 crore a year ago. The provisioning coverage ratio on non-performing loans was 76% at the end of March 2026.As of March 2026, the bank holds contingency provision of Rs 13,100 crore and additional standard asset provision of Rs 1,283 crore made in the third quarter on Reserve Bank directions in respect of the agricultural priority sector portfolio.
Fee income increased 8% to Rs 6,779 crore in March 2026 from Rs 6,306 crore a year ago with fees from retail, rural and business banking customers constituting about 78% of total fees during the quarter.
The bank suffered a treasury loss of Rs 106 crore during the quarter reflecting the RBI restrictions of non deliverable forwards and also the sharp rise in bond yields during the month of March. The bank had reported a treasury gain of Rs 239 crore a year ago. The bank’s board has recommended a dividend of Rs 12 per share for FY2026.
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The company reported a net loss of 29.09 crore in the January-March quarter a year ago, according to a regulatory filing by Network18 Media, a subsidiary of billionaire Mukesh Ambani-led Reliance Industries Ltd.
Its consolidated revenue from operations rose by 9.7 per cent to Rs 615.78 crore in the March quarter compared to Rs 561.32 crore in the corresponding quarter in the last fiscal.
Consolidated operating revenue for the quarter increased by 9.7 per cent “despite the multiple headwinds in the macro environment. On a QoQ basis, the revenue grew 14.2 per cent,” said Network18 Media & Investments in its earnings statement.
Advertising inventory demand for the TV news industry declined by 10 per cent YoY, but Network18’s inventory grew 4.5 per cent, helping the company perform better than the industry.
“Company’s diversified portfolio, strong market positions across markets, and revenue from new businesses helped soften the impact of a weak advertising environment,” it said.
EBITDA for the quarter was Rs 30 crore with a margin of 4.9 per cent, it added.Its total expenses were at Rs 670.89 crore, up 6.47 per cent in the March quarter.
Network18 Media’s total consolidated income, which includes other income, was at Rs 616.21 crore, up 9.14 per cent in Q4 of FY26.
On a standalone basis, Network18’s loss widened to Rs 72.51 crore in the March quarter compared to a loss of Rs 69.48 crore in the corresponding quarter of the last fiscal. Revenue from operations rose by 4.85 per cent year-on-year to Rs 547.07 crore in the March quarter.
For the entire FY26, Network18 Media & Investments’ profit was at Rs 155.20 crore. Consolidated income was at Rs 2,148.46 crore for the financial year ended on March 31, 2026.
“Excluding the first quarter, which had a decline in revenue due to a high base of election-linked advertising in the previous fiscal, revenue was up 7 per cent. Operating costs grew in line with revenue, resulting in flat EBITDA,” it said.
According to the company, its “figures for the corresponding previous year are not comparable” as Indiacast Media Distribution and Studio 18 Media(Formerly Viacom 18) ceased to be a subsidiary of the Company on 14th November, 2024 and 30th December, 2024, respectively.
Network18 continues to be India’s leading TV news network, with a portfolio of 20 channels (including 14 regional channels), and the largest in terms of reach and viewership.
“The network reached over 2,305 million people a month, 35 per cent higher than the nearest competitor, and had an all-India viewership share of 13.8 per cent,” it said.
It also leads in the digital segment with its platforms – Moneycontrol, News18, Firstpost and CNBCTV18. It has over 360 million monthly users, representing 65 per cent reach in the segment, Network18 said.
Commenting on the results, Chairman Adil Zainulbhai said: “We ended the year on a positive note despite the geopolitical crisis that the world finds itself immersed in currently. In a year marked by high news flow volumes, our network has taken the lead in delivering news over noise, consistently. We are happy with the progress made on the operating front during the year and the impressive scale-up of new businesses in a short time, which is helping us diversify our revenue base.”
The company is focused on strengthening its core news business even as it expands presence in adjacent categories, he added.
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