Lakshmi Vilas Bank

From Tata-Mistry Legal Battle To LVB Collapse, Biggest Corporate Controversies Of 2020

Business | Edited by Nirmalya Sen (with inputs from agencies) | Saturday December 19, 2020

Due to the strict lockdown imposed to deal with Covid-19 virus, business malfeasances were few and far between

Delhi High Court Wants DBS Revert On Religare Finvest Plea To Make Bank Party in Suit Against LVB

Business | Edited by Nirmalya Sen | Friday December 4, 2020

Religare Finvest has a 2018 pending suit against LVB alleging misappropriation of its Fixed Deposits of Rs 750 crore

Lakshmi Vilas Bank To Write Off Rs 318 Crore Debt Ahead Of DBS Merger

Business | Suvashree Ghosh, Bloomberg | Friday November 27, 2020

The Reserve Bank of India, which orchestrated the rescue, "has advised the need to fully write down" the tier-2 debt, Lakshmi Vilas Bank said in an exchange filing Thursday.

Latest Updates On Lakshmi Vilas Bank Merger: 10 Things To Know

Business | Edited by Sandeep Singh (with inputs from PTI) | Saturday November 28, 2020

This week, the government approved the merger of crisis-hit Lakshmi Vilas Bank into DBS Bank India, a unit of Southeast Asia's largest lender, DBS. Lakshmi Vilas Bank (LVB) will now operate as DBS Bank India, with restrictions on withdrawals from its customers' accounts now lifted. The development comes days after withdrawals from Lakshmi Vilas Ban...

Stocks To Watch In Trade Today: Lakshmi Vilas Bank, Laurus Labs

Business | Edited by edited by Peter Noronha | Thursday November 26, 2020

Lakshmi Vilas Bank shares will be in focus after the government, on Wednesday, approved the merger of Lakshmi Vilas Bank with DBS Bank India

Trading In Lakshmi Vilas Bank Shares To Be Suspended From Thursday

Business | Asian News International | Thursday November 26, 2020

Reserve Bank has said the amalgamation of Lakshmi Vilas Bank with DBS Bank will come into force from November 27 and moratorium imposed on the crisis-ridden lender will be removed on that day.

Lakshmi Vilas Bank To Operate Branches As DBS Bank India From Friday

Business | Edited by Abhishek Vasudev | Wednesday November 25, 2020

The RBI's move came after the Union Cabinet earlier in the day approved the merger of Lakshmi Vilas Bank (LVB) with DBS India

Crisis-Hit Lakshmi Vilas Bank's Merger With DBS India Cleared By Cabinet

Business | Edited by Peter Noronha | Wednesday November 25, 2020

Cabinet approves merger of Lakshmi Vilas Bank with DBS Bank: As part of the amalgamation plan, DBS India will infuse fresh capital of Rs 2,500 crore into LVB and the entire share capital and reserves and surplus will be written off.

Lakshmi Vilas Bank-DBS Bank Deal: Here Is All You Need to Know

Business | Edited by Sandeep Singh (with inputs from agencies) | Friday November 20, 2020

LVB-DBS Deal: According to the RBI's plan, the well-capitalised DBS Bank India will bring in additional capital of Rs 2,500 crore upfront.

DBS To Rescue Lakshmi Vilas Bank, First Such Move By A Foreign Lender

Business | Bijou George and Suvashree Ghosh, Bloomberg | Thursday November 19, 2020

Singapore-based DBS's Indian unit will pump in Rs 25 billion ($336 million) in fresh capital, the central bank said in a statement on Tuesday.

Lakshmi Vilas Bank's Financial Crisis Sparks Panic Among Customers

India News | Written by J Sam Daniel and Purva Chitnis, Edited by Harish Pullanoor | Thursday November 19, 2020

Mythili Krishnamoorthi is distraught - her family faces a medical emergency and requires a large sum of money. But all her savings are now under a withdrawal moratorium imposed by the Reserve Bank of India (RBI) on Lakshmi Vilas Bank. The Chennai resident is desperate for the banking regulator to approve her plea for exemption to withdraw up to Rs ...

Lakshmi Vilas Bank Lent Heavily To Nirav Modi, Jet Airways: Bank Employees Association

Business | Edited by Nikita Prasad | Wednesday November 18, 2020

The association claims that the heavy loans were known to the RBI as it had its nominee as Director on the Board of the bank.

Lakshmi Vilas Bank Has Enough Liquidity To Pay Its Depositors: RBI-Appointed Administrator

Business | ANI | Wednesday November 18, 2020

Lakshmi Vilas Bank has been placed under an order of moratorium on November 17, 2020, which will be effective up to December 16, 2020

Opinion: This Time, India Is Getting A Bank Rescue Right

Business | Andy Mukherjee | Bloomberg | Wednesday November 18, 2020

The moth-eaten LVB will cease to exist, its equity completely wiped out.

Laxmi Vilas Bank Rescue Gets Underway With Withdrawal Cap, Merger Plan

Business | Edited by Peter Noronha (with inputs from agencies) | Wednesday November 18, 2020

The government initiated the process of rescuing the beleaguered Lakshmi Vilas Bank (LVB) on Tuesday by placing it under a moratorium for one month, and capping withdrawals from its customers' accounts at Rs 25,000 a month. The move to freeze the bank accounts was in view of the Tamil Nadu-based private sector lender's deteriorating financial healt...