Lakshmi Vilas Bank Merger

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.

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...

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

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

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.

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...

Lakshmi Vilas Bank Ltd. said India's central bank rejected its proposal to combine with a shadow lender, a move that may delay its plan to raise capital.

This comes days after the Reserve Bank of India initiated a so-called "prompt corrective action" on the lender due to high level of bad loans, lack of sufficient capital to manage risks and a negative return on assets for two consecutive years.

Lakshmi Vilas Bank on Wednesday informed exchanges that its non-executive independent director Supriya Prakash Sen resigned from the bank.

RBI earlier said it is yet to approve Lakshmi Vilas Bank-IHFL merger. In a statement the RBI had noted that it would examine the proposal as per extant regulatory guidelines and directions.

Lakshmi Vilas Bank shares surged by its daily maximum limit of 5 per cent, for a third day in a row, to Rs 97.35 after board of directors of the bank approved merger deal with Indiabulls Housing Finance,

RBI said it will examine the proposal upon receiving it from the parties in line with regulatory guidelines

Lakshmi Vilas Bank had total assets worth Rs 40,429 crore, as of March 31, 2018, while Indiabulls Housing had total assets of Rs 1.32 lakh crore, as on December 31.

Expectations for more merger and acquisitions (M&As) in the banking industry after Kotak Mahindra Bank's $2.4 billion takeover deal with ING Vysya boosted smaller lenders on Friday. Thursdays record deal has raised speculation over likely mergers in the sector, say traders.

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.

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...

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

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

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.

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...

Lakshmi Vilas Bank Ltd. said India's central bank rejected its proposal to combine with a shadow lender, a move that may delay its plan to raise capital.

This comes days after the Reserve Bank of India initiated a so-called "prompt corrective action" on the lender due to high level of bad loans, lack of sufficient capital to manage risks and a negative return on assets for two consecutive years.

Lakshmi Vilas Bank on Wednesday informed exchanges that its non-executive independent director Supriya Prakash Sen resigned from the bank.

RBI earlier said it is yet to approve Lakshmi Vilas Bank-IHFL merger. In a statement the RBI had noted that it would examine the proposal as per extant regulatory guidelines and directions.

Lakshmi Vilas Bank shares surged by its daily maximum limit of 5 per cent, for a third day in a row, to Rs 97.35 after board of directors of the bank approved merger deal with Indiabulls Housing Finance,

RBI said it will examine the proposal upon receiving it from the parties in line with regulatory guidelines

Lakshmi Vilas Bank had total assets worth Rs 40,429 crore, as of March 31, 2018, while Indiabulls Housing had total assets of Rs 1.32 lakh crore, as on December 31.

Expectations for more merger and acquisitions (M&As) in the banking industry after Kotak Mahindra Bank's $2.4 billion takeover deal with ING Vysya boosted smaller lenders on Friday. Thursdays record deal has raised speculation over likely mergers in the sector, say traders.