Lakshmi Vilas Bank branches to operate as DBS Bank from today
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 customers of DBS Bank India Ltd. with effect from November 27, 2020," the LVB said in a regulatory filing. "Consequently the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date. DBS Bank India Ltd. is making necessary arrangements to ensure that service, as usual, is provided to the customers of the Lakshmi Vilas Bank Ltd." The RBI on Wednesday notified the effective date of merger soon after the Union Cabinet headed by Prime Minister Narendra Modi approved the Scheme of Amalgamation of LVB with DBS Bank India Ltd. "Customers, including depositors of the Lakshmi Vilas Bank Ltd will be able to operate their accounts as customers of DBS Bank India Ltd with effect from November 27, 2020. Consequently the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date," it said.

History of this topic

DBS Bank India aims to expand gold and MSME loan business; details here
2 years, 1 month ago
Plea in HC against Lakshmi Vilas Bank-DBS merger
3 years, 11 months ago
Fixing the banking mess
3 years, 11 months ago
Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now
4 years ago
Bombay High Court Refuses To Stay RBI Scheme For Lakshmi Vilas Bank Merger With DBS Bank
4 years ago
LVB-DBS Bank Merger: Key Highlights Of Crisis-Hit Lakshmi Vilas Bank's Merger With DBS India
4 years ago
Lakshmi Vilas Bank to Become DBS Bank India from Friday, Rs 25,000 Withdrawal Restriction to Go
4 years ago
Govt Approves Merger of Lakshmi Vilas Bank with DBS Bank India, Lifts Curbs on Withdrawal of Deposits
4 years ago
The Hindu Explains | What is a bank moratorium, and when does it come into play?
4 years, 1 month ago
DBS Wanted to Buy 50% Stake of Lakshmi Vilas Bank in 2018, but RBI Rejected Deal, Says Promoter
4 years, 1 month ago
Proposed Merger of Lakshmi Vilas Bank With DBS Bank a Remarkable Job, Says RBI Board Member
4 years, 1 month ago
'Depositors Money Is Safe,' Assures RBI-Appointed Administrator Of Lakshmi Vilas Bank
4 years, 1 month ago
Merger With Lakshmi Vilas Bank to Strengthen DBS Bank's India Business, Says Moody's
4 years, 1 month ago
Depositors' Money in Lakshmi Vilas Bank Safe, Timely Merger with DBS Before Deadline: Administrator
4 years, 1 month ago
Lakshmi Vilas Bank depositors’ money safe, says RBI-appointed administrator
4 years, 1 month ago
Centre imposes one-month moratorium on TN-based Lakshmi Vilas Bank
4 years, 1 month ago
After Lakshmi Vilas Bank, RBI imposes withdrawal limit on THIS 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
4 years, 1 month ago
Bank is safe and so are your deposits
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
4 years, 1 month ago
Lakshmi Vilas Bank Put Under Moratorium, Withdrawal Cap Of Rs 25,000 Imposed; Know All About It
4 years, 1 month ago
Laxmi Vilas Bank Placed Under Moratorium, Centre Announces Draft Amalgamation Scheme With DBS Bank India Ltd.
4 years, 1 month ago
Lakshmi Vilas Bank placed under moratorium, withdrawals capped at Rs 25,000; RBI proposes merger with DBS Bank
4 years, 1 month ago
How does the LVB crisis impact you?
4 years, 1 month ago
India to Fold Lakshmi Vilas Bank into Local Arm of Singapore's DBS
4 years, 1 month ago
RBI Puts Lakshmi Vilas Bank under Moratorium, Caps Withdrawals at Rs 25,000; DBS Bank to Acquire Lender
4 years, 1 month ago
Lakshmi Vilas Bank board approves raising up to ₹500 crore via rights issue
4 years, 2 months ago

Discover Related