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 …
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 …
