Cabinet approves merger of Lakshmi Vilas Bank with DBS Bank; revokes cap on withdrawal limit

DNA

25 Nov 2020 0 shares 1 views

DNA

Published 25 Nov 2020

On November 17, the Reserve Bank of India had unveiled a draft scheme to amalgamate private sector lender LVB with DBS Bank India Ltd (DBIL).

Cabinet nod for Lakshmi Vilas Bank, DBS Bank India amalgamation; no restrictions on cash withdrawal limit

During the one-month moratorium period of Lakshmi Vilas Bank the government had capped withdrawals at Rs 25,000 per depositor.

Zee News 25 Nov 2020