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

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

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

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Lakshmi Vilas Bank Gets Board's Approval to Raise Rs 500 Crore Via Rights Issue
4 years, 2 months ago

Lakshmi Vilas Bank Gets Board's Approval to Raise Rs 500 Crore Via Rights Issue

News 18  

Cash-strapped Lakshmi Vilas Bank on Thursday said its board has approved plans to raise up to Rs 500 crore through a rights issue. The board at its meeting held on October 15, 2020, has considered and approved the raising of funds by issuance and allotment of equity shares or such other eligible securities for an aggregate amount of up to …

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Religare Funds Scam: Delhi HC Seeks Shivinder Singh's Reply on Plea Challenging His Bail
4 years, 2 months ago

Religare Funds Scam: Delhi HC Seeks Shivinder Singh's Reply on Plea Challenging His Bail

News 18  

The Delhi High Court Monday sought response of former Fortis Healthcare promotor Shivinder Mohan Singh on a plea challenging bail granted to him in a bank fraud case. It is alleged by the police that Shivinder and his brother Malvinder Mohan Singh in connivance with the employees of Lakshmi Vilas Bank misappropriated two Fixed Deposits of Rs 400 crore and …

Delhi Court Bail Singh Fir His Bail Rel