News Muncher - searching for lvb

2 years, 1 month ago

DBS Bank India aims to expand gold and MSME loan business; details here

DBS Bank India has presently a strong presence in the Indian market, and benefits from the network’s expansion across sectors like gold loans, have begun to emerge DBS Bank India Ltd. is focusing on expanding its gold and MSME loan businesses. After merging the former Lakshmi Vilas Bank into its fold, DBS Bank India, which is a wholly-owned subsidiary of …

India Bank Loans Loan Gold Loans Sme Msme

4 years ago

LVS-DBS Merger: Supreme Court Issues Notice On RBI's Plea Seeking Transfer & Stay On Petitions Across High Courts

Live Law

The Supreme Court on Friday issued notice on the RBI's plea, seeking transfer of five writ petitions pending before the High Courts of Madras, Delhi, Karnataka and Bombay challenging the Lakshmi Vilas Bank Limited Scheme, 2020.A bench of Justice Mohan M. Shantangoudar also issued notice on the stay applications, directing it to be returnable within. The Supreme Court on Friday …

High Court High Courts Rbi Act Scheme Issued Section 45

4 years ago

HC issues DBS notice over plea by Religare

Live Mint

Religare Finvest Ltd, which has a pending case against Lakshmi Vilas Bank for misappropriating fixed deposits worth ₹750 crore, on Thursday sought directions from Delhi High Court to substitute the defendant Lakshmi Vilas Bank Limited with DBS Bank India Ltd in the ongoing suit, on the ground of the mergers of the two banks. Asserting on the recent developments where …

Bank Religare Lvb Dbs Notice

4 years ago

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

India TV News

Tamil Nadu-based Lakshmi Vilas Bank with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday. The Reserve Bank of India had announced November 27 as the effective …

India Tamil Nadu Indian Bank Rbi Merger Lender

4 years ago

Lakshmi Vilas Bank branches to operate as DBS Bank from today

Live Mint

All the branches of Lakshmi Vilas Bank will start functioning as branches of Indian arm of Singapore-based DBS Bank from today, leading to removal of all restrictions, including withdrawal cap of ₹25,000, which the RBI had placed on the lender earlier this month. "Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as …

Lakshmi Customers Dbs Bank Dbs Lvb Dbs Bank India Ltd Lakshmi Vilas Bank

4 years ago

LVB-DBS Bank Merger: Key Highlights Of Crisis-Hit Lakshmi Vilas Bank's Merger With DBS India

ABP News

The Union Cabinet on Wednesday approved the merger of capital-starved Lakshmi Vilas Bank with the Indian arm of Singapore-based DBS Bank India. LVB and DBS Bank India merger will come into effect from November 27, 2020. The Union Cabinet approved the merger of 94-year-old capital-starved Lakshmi Vilas Bank with DBS Bank India. This comes after the Reserve Bank of India …

India Bank Rbi Merger Dbs Lvb Dbs Bank India

4 years ago

Lakshmi Vilas Bank to Become DBS Bank India from Friday, Rs 25,000 Withdrawal Restriction to Go

News 18

The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited with DBS Bank …

India Cabinet Rbi Lakshmi Dbs Lvb Dbs Bank India

4 years ago

News18 Evening Digest: Centre Issues New Guidelines from Dec 1 for Covid-19 Management and Other Top Stories

News 18

Centre Issues New Guidelines from Dec 1, States Allowed to Impose Local Curbs Only in Containment Zones The Ministry of Home Affairs has issued fresh guidelines for surveillance, containment and caution. Chennai Airport to Close from 7pm as ‘Very Severe’ Cyclone Likely to Cross TN Coast Several flights were cancelled and a public holiday declared to prepare for Cyclone Nivar, …

India Tamil Nadu New Zealand Puducherry Dec Read Ffi

4 years ago

Govt Approves Merger of Lakshmi Vilas Bank with DBS Bank India, Lifts Curbs on Withdrawal of Deposits

News 18

The government on Wednesday approved merger of crisis-ridden Lakshmi Vilas Bank with DBS Bank India Ltd and removed restrictions on withdrawal of deposits by depositors. The Union Cabinet has approved the merger of the LVB with DBS Bank India Limited, Union Minister Prakash Javadekar told reporters, adding the decision will provide comfort to 20 lakh depositors and protect the services …

India Bank Lvb Dbs Bank India Lakshmi Vilas Bank Vilas Bank

4 years, 1 month ago

RBI’s impossible duality: Policy clarity versus whimsy

Live Mint

The Reserve Bank of India, as the Indian financial sector’s custodian, initiated a two-pronged action on 17 November: a moratorium on privately-owned Lakshmi Vilas Bank and, simultaneously, its amalgamation with DBS Bank India Ltd, a wholly-owned subsidiary in India of the Singapore government’s DBS Bank. Three days later, an internal working group of the central bank released a report on …

India Indian Bank Foreign Rbi Banks Private

4 years, 1 month ago

The Hindu Explains | What is a bank moratorium, and when does it come into play?

The Hindu

The story so far: On November 17, the Centre, acting on the recommendation of the Reserve Bank of India, imposed a moratorium on Lakshmi Vilas Bank for a period of 30 days. The RBI, the regulatory body overseeing the country’s financial system, has the power to ask the government to have a moratorium placed on a bank’s operations for a …

Bank Funds Rbi Yes Bank Dbs Lvb Hindu Explains

4 years, 1 month ago

Proposed Merger of Lakshmi Vilas Bank With DBS Bank a Remarkable Job, Says RBI Board Member

News 18

RBI board member Manish Sabharwal on Thursday praised the central bank on its proposal to merge Lakshmi Vilas Bank with the Indian arm of Singapore-based DBS Bank, saying the scheme is a new template where a distressed private sector entity is rescued by another private player. On Tuesday, the government imposed a 30-day moratorium on Lakshmi Vilas Bank, restricting cash …

Bank Rbi Sabharwal Dbs Bank Dbs Lvb Lakshmi Vilas Bank

4 years, 1 month ago

'Depositors Money Is Safe,' Assures RBI-Appointed Administrator Of Lakshmi Vilas Bank

ABP News

Know How It Gets Implemented And Other Details The Reserve Bank of India -appointed administrator of Lakshmi Vilas Bank, T N Manoharan on Wednesday assured that depositors' money is safe and expressed confidence in completing the lender's merger with DBS Bank India within December 16 deadline set by the banking regulator. Confident that we will be able to implement a …

India Depositors Dbs Lvb Manoharan Lakshmi Vilas Bank Safe Assures

4 years, 1 month ago

Merger With Lakshmi Vilas Bank to Strengthen DBS Bank's India Business, Says Moody's

News 18

Moody’s Investors Service on Wednesday said Singapore’s DBS Bank will strengthen its India business following merger with troubled Lakshmi Vilas Bank. Banking regulator RBI on Tuesday announced a draft scheme to amalgamate the troubled Lakshmi Vilas Bank into DBS Bank India, which is fully owned by DBS Bank Ltd. “The merger will strengthen DBS’ business position in India by adding …

India Bank Rbi Dbs Bank Dbs Lvb Lakshmi Vilas Bank

4 years, 1 month ago

AIBOC Opposes Merger of LVB with DBS Bank, Pitches for Merger With State-owned Bank

News 18

A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank with subsidiary of Singapore-based DBS, public sector banks’ officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to …

India Bank Sector Rbi Banks Kumar Dbs Bank

4 years, 1 month ago

After Lakshmi Vilas Bank, RBI imposes withdrawal limit on THIS bank

India TV News

Reserve Bank of India on Tuesday imposed restrictions on withdrawals from Maharashtra-based Mantha Urban Cooperative Bank for six months. The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020. The bank will continue to undertake banking business with restrictions till its …

Bank Rbi Directions Lvb Lakshmi Vilas Bank

4 years, 1 month ago

RBI Announces Draft Scheme to Merge Lakshmi Vilas Bank with DBS Bank- Here's All You Need to Know

News 18

Immediately after placing loss-making private bank Lakshmi Vilas Bank under moratorium and superseding its Board of Directors, the Reserve Bank of India announced a draft scheme for its amalgamation with DBS Bank India Ltd. RBI has placed LVB under a moratorium for 30 days that would end on December 16, according to statements from the regulator. Lakshmi Vilas Bank saw …

Bank Rbi Lakshmi Moratorium Vilas Lvb Lakshmi Vilas Bank

4 years, 1 month ago

Bank is safe and so are your deposits

Live Mint

Indian households looking for a safe space to put their money have been going from crisis to crisis in the past few years. Banks have failed, debt funds saw deep losses, and in March 2020, we saw six debt funds frozen. The latest story that is spooking bank depositors is the moratorium on their money in Lakshmi Vilas Bank, ahead …

Bank

4 years, 1 month ago

LVB Shareholders Not to Get Anything As Per RBI's Draft Scheme for Merger, Key Managerial Personnel May Lose Job

News 18

The shareholders of the 94-year-old Lakshmi Vilas Bank may not be getting anything as per the Reserve Bank of India’s draft scheme for its amalgamation with DBS Bank India. The draft scheme also states the employees of the LVB will become the employees of the DBS Bank and the latter can discontinue the services of key managerial personnel of the …

India Bank Rbi Scheme Appointed Dbs Lvb

4 years, 1 month ago

Had Demanded Timely Action from RBI on Lakshmi Vilas Bank, Merger with a Public Sector Bank: AIBEA

News 18

The umbrella body of bank unions AIBEA on Tuesday said it was demanding a timely action from the RBI on Lakshmi Vilas Bank as the regulator was aware about its financial condition for the last three years and said its demand for a merger with a public sector bank has not been accepted. For the past three years and more, …

Action Sector Cent Rbi Bad Loans Aibea Lvb

4 years, 1 month ago

Lakshmi Vilas Bank Put Under Moratorium, Withdrawal Cap Of Rs 25,000 Imposed; Know All About It

ABP News

Merger With DBS Bank In a sudden twist in the ongoing race for cash strapped Lakshmi Vilas Bank, the central government on Tuesday placed Tamil Nadu-based private sector lender under moratorium and capped withdrawal from the bank at Rs 25,000 for one month.However, to meet the cost of medical treatment, payment of higher education, and to cost marriage expenses, depositors …

Bank Capital Rbi Cap Dbs Bank Depositors Lvb

4 years, 1 month ago

Lakshmi Vilas Bank placed under moratorium, withdrawals capped at Rs 25,000; RBI proposes merger with DBS Bank

Firstpost

TN Manoharan, former non-executive chairman of Canara Bank, has been appointed as the administrator of the bank Mumbai: 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. “Accordingly, after considering the Reserve Bank’s request, the Central Government has imposed moratorium for thirty days effective from today,” …

Bank Lakshmi Vilas Bank Vilas Bank Rbi Proposes

4 years, 1 month ago

How does the LVB crisis impact you?

Live Mint

Indian households, looking for a safe space to put their money in, have been hurtling from crisis-to-crisis past few years. Banks have failed, debt funds saw uncharacteristically deep losses and in March 2020, we saw six debt funds frozen. The latest story that is spooking bank depositors is the moratorium on their money in Lakshmi Vilas Bank, ahead of its …

Bank Crisis Lvb

4 years, 1 month ago

RBI Puts Lakshmi Vilas Bank under Moratorium, Caps Withdrawals at Rs 25,000; DBS Bank to Acquire Lender

News 18

The government on Tuesday imposed a month-long moratorium on Lakshmi Vilas Bank, restricting cash withdrawals at Rs 25,000 per depositor, and simultaneously announcing a scheme to merge the cash-strapped lender with DBS India. The RBI placed in the public domain a draft scheme of amalgamation of LVB with DBS Bank India Ltd. The Department of Financial Services in a gazette …

India Bank Crore Rbi Dbs Bank Dbs Lvb

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DBS Bank India aims to expand gold and MSME loan business; details here

LVS-DBS Merger: Supreme Court Issues Notice On RBI's Plea Seeking Transfer & Stay On Petitions Across High Courts

HC issues DBS notice over plea by Religare

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

Lakshmi Vilas Bank branches to operate as DBS Bank from today

LVB-DBS Bank Merger: Key Highlights Of Crisis-Hit Lakshmi Vilas Bank's Merger With DBS India

Lakshmi Vilas Bank to Become DBS Bank India from Friday, Rs 25,000 Withdrawal Restriction to Go

News18 Evening Digest: Centre Issues New Guidelines from Dec 1 for Covid-19 Management and Other Top Stories

Govt Approves Merger of Lakshmi Vilas Bank with DBS Bank India, Lifts Curbs on Withdrawal of Deposits

RBI’s impossible duality: Policy clarity versus whimsy

The Hindu Explains | What is a bank moratorium, and when does it come into play?

Proposed Merger of Lakshmi Vilas Bank With DBS Bank a Remarkable Job, Says RBI Board Member

'Depositors Money Is Safe,' Assures RBI-Appointed Administrator Of Lakshmi Vilas Bank

Merger With Lakshmi Vilas Bank to Strengthen DBS Bank's India Business, Says Moody's

AIBOC Opposes Merger of LVB with DBS Bank, Pitches for Merger With State-owned Bank

After Lakshmi Vilas Bank, RBI imposes withdrawal limit on THIS bank

RBI Announces Draft Scheme to Merge Lakshmi Vilas Bank with DBS Bank- Here's All You Need to Know

Bank is safe and so are your deposits

LVB Shareholders Not to Get Anything As Per RBI's Draft Scheme for Merger, Key Managerial Personnel May Lose Job

Had Demanded Timely Action from RBI on Lakshmi Vilas Bank, Merger with a Public Sector Bank: AIBEA

Lakshmi Vilas Bank Put Under Moratorium, Withdrawal Cap Of Rs 25,000 Imposed; Know All About It

Lakshmi Vilas Bank placed under moratorium, withdrawals capped at Rs 25,000; RBI proposes merger with DBS Bank

How does the LVB crisis impact you?

RBI Puts Lakshmi Vilas Bank under Moratorium, Caps Withdrawals at Rs 25,000; DBS Bank to Acquire Lender