NEW DELHI: Reserve Bank of India (RBI) designated administrator for Lakshmi Vilas Bank Tennessee Manoharan on Wednesday he said the lender has enough liquidity to pay its depositors. The top priority is to assure LVB depositors that their money is safe, Manoharan said, adding that he is confident of the …
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EEB (Photo credit: Kamlesh Pednekar) Continuing their move north, the benchmark indices rose another 0.5 percent on Wednesday to settle for new closing peaks. The S&P BSE Sensex broke the 44,000 mark to end the day at 44,180 levels, up 227 points, or 0.52 percent, while NSE’s Nifty closed the …
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Lakshmi Vilas Bank shares closed at Rs 15.60 a share on Tuesday. The stock has plunged more than 35% since the end of June this year. The full paid-up share capital of the troubled Lakshmi Vilas Bank is likely to be canceled as the merger with DBS Bank India progresses. …
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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 …
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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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Negative real rates in India and the recovery in growth coupled with high inflation suggest that its central bank has little room for more monetary stimulus, but policy is likely to remain flexible, economists and analysts said. Industrial production in September grew for the first time in six months, while …
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A worker works at an overpass construction site amid smog in New Delhi. (Reuters) Consumer inflation rose again to pre-virus highs in October, and almost all broad categories except fuel saw prices rise. While the fourth quarter is likely to mark the peak of inflation, we have become more cautious …
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What did the RBI warn about falling GDP amid the pandemic and what awaits us? The story so far: The latest monthly newsletter of the Reserve Bank of India (RBI) features an article by an official in its Monetary Policy Department titled ‘An Index of Economic Activity for India’, where …
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The Indian economy is likely to enter a recession phase for the first time in the second quarter (July-September) of the current financial year, and the Gross Domestic Product is expected to contract by 8.6%, the Bank said. of the Reserve of India in a bulletin. released Wednesday. Technically, a …
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