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Tag: Lakshmi Vilas Bank

Cabinet permits RBI’s proposal to merge Lakshmi Vilas Bank with DBS Bank

November 25, 2020
Lakshmi Vilas Bank
  • Union Cabinet has accepted the merger of capital-starved Lakshmi Vilas Bank (LVB) with DBS Bank India.
  • The Reserve Bank of India on 17 November stated the merger of the lender with the Indian arm of Singapore’s DBS Bank.

RBI sets Lakshmi Vilas Bank under moratorium

November 18, 2020
Lakshmi Vilas Bank
  • The Reserve Bank of India (RBI) has put cash-strapped Lakshmi Vilas Bank (LVB) under a moratorium for a period of one month and limited withdrawals at Rs 25,000 for depositors, owing to a serious deterioration in the lender’s financial position.