Lakshmi Vilas Bank under one-month moratorium, withdrawals capped at Rs 25,000

The government on Tuesday placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor.

The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender.

In a statement, the RBI...