Lakshmi Vilas Bank

Plea in Delhi High Court challenges Lakshmi Vilas Bank-DBS merger

The plea is contending that its shareholders have been 'left in the lurch' and the Centre and the Reserve Bank have failed to protect their interests.

published on : 17th January 2021

DBS Bank served notice in Religare deposit fraud case

Religare has also sought that the court pass an order allowing substitution of DBS Bank India Limited as defendant in the present suit in place of Lakshmi Vilas Bank.

published on : 4th December 2020

Lakshmi Vilas Bank customers can access all services; no change in interest rates as of now: DBS

The amalgamation provides stability and better prospects to LVB's depositors, customers and employees following a period of uncertainty.

published on : 30th November 2020

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

Many stakeholders including bank unions have raised questions on the manner in which the LVB was merged with subsidiary of a foreign bank, saying that RBI has gifted LVB for free.

published on : 27th November 2020

RBI has set precedence in LVB bond write-off, will hurt other banks: Report

During the Yes Bank rescue earlier this year also, there was an over Rs 7,000-crore bond write-off, but that involved a different instrument called additional tier-I bonds.

published on : 27th November 2020

RBI's culpability in Lakshmi Vilas Bank's failure needs to be looked into: AIBEA

The 94-year-old Lakshmi Vilas Bank (LVB) was profitable for 90 years and that the bank has been incurring losses for the past three years only, the association said.

published on : 26th November 2020

Lakshmi Vilas Bank-DBS Bank merger effective from November 27: RBI

Depositors of Lakshmi Vilas Bank will be able to operate their accounts as customers of DBS Bank India with effect from Friday.

published on : 25th November 2020

Government approves merger of Lakshmi Vilas Bank with DBS Bank India

Union Minister Prakash Javadekar said that those responsible for deteriorating financial health of the LVB would be penalised.

published on : 25th November 2020

Lakshmi Vilas Bank stock tanks over 55 per cent in 7 trading sessions

The step was taken on the advice of the Reserve Bank of India, in view of the declining financial health of the private sector lender.

published on : 25th November 2020

Lakshmi Vilas Bank stock tanks over 53 per cent in 6 days

LVB is the third bank to be placed under moratorium since September last year after the cooperative bank PMC in 2019 and private sector lender Yes Bank this March.

published on : 24th November 2020

Investors continue to dump Lakshmi Vilas Bank shares; stock tanks over 48 per cent in 5 days

The step was taken by the government, on the advice of the Reserve Bank of India, in view of the declining financial health of the private sector lender.

published on : 23rd November 2020

Clearing the air about crisis-hit Lakshmi Vilas Bank ahead of its merger with DBS

Last week the Reserve Bank of India announced that the cash-strapped Lakshmi Vilas Bank will be merged with DBS Bank and will remain under moratorium till December 16.

published on : 23rd November 2020

Swift Lakshmi Vilas Bank resolution a reminder for govt to empower RBI

Such a swift resolution protects the interests of depositors and employees, helps maintain financial stability and prevents chaos.

published on : 21st November 2020

Lakshmi Vilas Bank shares slump further, hit 52-week low value

On Tuesday, the government placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor.

published on : 20th November 2020

RBI's swift resolution of Lakshmi Vilas Bank to maintain sector stability: S&P

S&P said this deal is positive for India's banking sector and will bring much-needed relief to LVB, which has been struggling for many years.

published on : 19th November 2020
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