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Articles for Lvb, search results for 2020

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

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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 …

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

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Bank is safe and so are your deposits
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 …

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

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How does the LVB crisis impact you?
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 …

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Lakshmi Vilas Bank rallies 16% on receiving non-binding offer from Clix Group
4 years, 2 months ago

Lakshmi Vilas Bank rallies 16% on receiving non-binding offer from Clix Group

Live Mint  

Shares of Lakshmi Vilas Bank Ltd surged as much as 16.01% after the bank said it has received an indicative non-binding offer from Clix Group. Clix Housing Finance Private Limited, we are glad to inform that, the Bank has received an indicative non-binding offer from Clix Group. Earlier on 15 June, 2020, Lakshmi Vilas Bank said that it had received …

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