Narendar Modi government approves merger of Lakshmi Vilas Bank with DBIL
NEW DELHI: The Narendra Modi government on Wednesday approved the merger of crisis-ridden Lakshmi Vilas Bank (LVB) with the DBS Bank India Ltd (DBIL) with Union minister Prakash Javadekar asserting that there will be no further restrictions on the depositors regarding withdrawals other than the current moratorium. The minister also assured depositors that Rs 20,000 […]
RSS body accuses RBI of favouritism, backdoor entry and snubbing due process
NEW DELHI: A week after the Reserve Bank of India (RBI) decided to palm off the 94-year-old Tamil Nadu-based Lakshmi Vilas Bank (LVB) free of cost, the issue has taken a political turn. On November 17, the RBI had proposed a draft scheme of amalgamation of the beleaguered Lakshmi Vilas Bank with DBS Bank India […]