RBI proposes amalgamation of Lakshmi Vilas Bank with DBS Bank

Mid-Day

17 Nov 2020 0 shares 1 views

RBI proposes amalgamation of Lakshmi Vilas Bank with DBS Bank

RBI proposes amalgamation of Lakshmi Vilas Bank with DBS Bank

Mid-Day

Published 17 Nov 2020

The Reserve Bank of India (RBI) on Tuesday proposed a draft scheme of amalgamation of the beleaguered Lakshmi Vilas Bank with DBS Bank India Ltd, a wholly-owned subsidiary of DBS Bank Ltd, Singapore.

The RBI has also placed the Lakshmi Vilas Bank under moratorium for 30 days and superseded its Board owing to serious...

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