Immediately after deferring the private bank Lakshmi Vilas Bank (LVB) and replacing its Board of Directors, the Reserve Bank of India (RBI) announced a draft scheme for its merger with DBS Bank India Ltd (DBIL). RBI placed LVB under a 30-day moratorium that would end on December 16, according to …
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Here is a list of the top ten stocks that may appear in the news on Wednesday: Lakshmi Vilas Bank: The banking regulator took control of Lakshmi Vilas Bank (LVB) on Tuesday and forced a merger with the local unit of Singapore’s largest lender, DBS Bank. The government, at the …
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As part of the merger process, the Reserve Bank of India (RBI) said that the Union government, at the request of the regulator, has limited withdrawals of deposits in ₹25,000 in LVB for a month. The Reserve Bank’s surprise intervention to force the capital-hungry private lender to merge with a …
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The private sector lender, with liquidity problems, subjected to a moratorium; DBS Bank India I could absorb it. The central government on Tuesday placed Lakshmi Vilas Bank less than a month moratorium until December 16, he replaced its board and limited withdrawals to 25,000 rupees per depositor. If he RBI …
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NEW DELHI: Reserve Bank of India (RBI) settled Tuesday with cash trouble Lakshmi Vilas Bank (LVB) defaulted for a period of one month and withdrawals restricted to Rs 25,000 for depositors, due to the serious deterioration of the financial situation of the lender. In an official statement, the RBI said: …
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On Tuesday, the central government placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank in default and limited the bank’s withdrawal to 25,000 rupees for one month, the Finance Ministry said in a statement. However, to cover the cost of medical treatment, the payment of higher education fees and the …
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The Reserve Bank of India said on Tuesday that Lakshmi Vilas Bank has been suspended as of 6 p.m., November 17 to December 16, and has restricted withdrawals of more than ₹25,000 during the moratorium period. The central bank said the move was necessary because its bad loans have been …
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NEW DELHI Here is a list of the top ten stocks that may appear in the news on Wednesday: Bharti Airtel: The country’s second-largest telecoms operator reported its highest consolidated quarterly revenues thanks to increased data usage and higher realizations, helping it cut losses in the July-September period. Consolidated revenues …
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The government is leaning towards the view that a bank’s exit from the public sector should be total when it is privatized. However, to make the sale attractive, the government wants the Reserve Bank of India (RBI) to relax the rules on ownership in private sector banks. A senior government …
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Lakshmi Vilas Bank said today that it has received a non-binding indicative offer from Clix Group. The struggling private sector bank is desperately seeking capital and is in talks with Clix Group for a merger. “In addition to the process of consideration and evaluation of the proposed merger with M …
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