Areport of an internal working group set up by the Reserve Bank of India has revived the discussion on the wisdom of allowing the entry of corporate players, including large business groups, into India’s banking space. Although the process of licensing a new generation of private banks began in 1993, primarily non-financial corporate entities have been eligible under the RBI’s …
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 …
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 …
)