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 …
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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 …
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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 …
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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, …
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Merger of Lakshmi Vilas and DBS Bank: the government had started the process to rescue LVB on Tuesday The cabinet on Wednesday approved the merger of Lakshmi Vilas Bank (LVB) with DBS India, which is the wholly owned subsidiary of DBS Bank. “The rapid merger and resolution of stress in …
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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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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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