NEW DELHI: DBS Bank India on Monday clients of Lakshmi Vilas Bank (LVB), which has now merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits have not changed as of now. Lakshmi Vilas Bank has now merged with DBS Bank India …
Read More »
Lakshmi Vilas Bank (LVB) is now merging with DBS Bank India Limited (DBIL), the wholly owned subsidiary of DBS Group Holdings Ltd. “All employees of Lakshmi Vilas Bank will continue in service and are now employees of DBS Bank India Limited in the same terms and conditions of service according …
Read More »
Lakshmi Vilas Bank’s decision to amortize the value of Tier-2 bonds ₹Rs 318 crore could increase the cost of borrowing for peers, especially the weaker ones, experts said. The troubled private bank said on Thursday that it has written off all of its Basel III-compliant Tier-2 bonds as advised by …
Read More »
MUMBAI : The Mumbai High Court on Thursday refused to grant the suspension of the final plan of merger between DBS bank and Lakshmi Vilas bank, which will take effect on Friday. A group of promoter entities had taken legal action against the Reserve Bank of India, the Union of …
Read More »
The 30-share BSE index fell 694.92 points on Wednesday, ending at 43,828.10. On the other hand, the broader NSE Nifty also fell 196.75 points, reaching 12,858.40. Amid mixed signals from global markets, some companies performed well on Wednesday. Here are actions investors should consider before investing today. Lakshmi Vilas Bank: …
Read More »
The National Stock Exchange (NSE) announced today that Lakshmi Vilas Bank shares will be suspended for trading starting tomorrow. NSE said: “Exchange members are hereby informed that the trading of shares of Lakshmi Vilas Bank Limited will be suspended as of November 26, 2020 (i.e. the closing time of trading …
Read More »
Lakshmi Vilas Bank branches will open and operate as DBS Bank India from Friday (Nov 27), the Reserve Bank of India said in a press release. Accordingly, the freeze on withdrawals from Lakshmi Vilas Bank’s account will also cease to exist, the RBI said. “Clients, including depositors of Lakshmi Vilas …
Read More »
The Reserve Bank of India said on Wednesday that the merger of Lakshmi Vilas Bank with DBS Bank India will take effect from November 27. The moratorium on the cash-hungry lender will be lifted the same day, the banking regulator said. The banking regulator previously imposed a one-month moratorium on …
Read More »
NEW DELHI: The moratorium on Lakshmi Vilas Bank by the Reserve Bank of India (RBI) will cease to exist as of November 27 versus the previously reported December 16, the central bank said in an official statement on Wednesday. All LVB branches will function as branches of DBS Bank India …
Read More »
The Union Cabinet on Wednesday approved the merger of Lakshmi Vilas Bank (LVB), which suffers from capital shortages, with DBS Bank India. The Reserve Bank of India proposed on November 17 to merge the 94-year-old lender with the Indian branch of DBS Bank of Singapore. As part of the merger, …
Read More »