For the last 10 quarters, Lakshmi Vilas Bank has been incurring losses and the RBI subjected it to Rapid Corrective Action (PCA) in September 2019. For the first time in the history of any bank in India, the shareholders of Chennai-based Lakshmi Vilas Bank removed seven directors and auditors at …
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Clix Capital, which was in advanced talks with Lakshmi Vilas Bank (LVB) for a possible merger, may approach the Reserve Bank of India (RBI) for clarity on the future of the deal after the bank’s shareholders voted seven Board members, including its managing director, said two people directly familiar with …
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It emerged that the Reserve Bank of India (RBI) told the state-owned Punjab National Bank to prepare to take over Lakshmi Vilas Bank (LVB) in case the transaction proposed by the troubled lender with Clix Capital does not materialize. In addition to PNB, another public sector bank was asked to …
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It emerged that the Reserve Bank of India (RBI) told the state-owned Punjab National Bank to prepare to take over Lakshmi Vilas Bank (LVB) in case the transaction proposed by the troubled lender with Clix Capital does not materialize. In addition to PNB, another public sector bank was asked to …
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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: …
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Photo: Hemant Mishra / Mint 3 min read . Updated: Sep 28, 2020 10:04 am IST Devansh Sharma Benchmark Indian stock indices opened higher on Monday, following positive signals from their Asian peers. Welcome to the Mint Live Blog. Follow this space for the latest updates on the stock market. …
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NEW DELHI Here is a list of the top ten stocks that may appear in the news on Monday: Dependency Industries: Reliance Retail Ventures Limited, the retail business of Mukesh Ambani’s Reliance Industries Ltd (RIL), has received ₹Rs 7.5 billion from tech investor Silver Lake, the company said in a …
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Amid Lakshmi Vilas Bank shareholders who voted against the appointment of CEO and directors at the General Shareholders’ Meeting, the bank sought to reassure depositors, saying that “the bank’s liquidity position to date is comfortable.” The rejection of the appointment of top management comes at a time when the bank …
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