Tag Archives: Lakshmi Vilas bank crisis

The Reserve Bank of India (RBI) took control of Lakshmi Vilas Bank (LVB) on Tuesday due to a “serious deterioration” in its finances. Withdrawals from the bank, which has been seeking a partner since last year to meet minimum capital buffers, had also been temporarily limited to 25,000 rupees, the …

Shareholders had rejected the appointment of seven directors, including the CEO, the CEO and the auditors, at the General Shareholders’ Meeting on September 25. The Directors Committee appointed by the RBI will exercise the discretionary powers of the Chief Executive Officer and the CEO in the interim. News18.com Last update: …