Govt approves merger of Lakshmi Vilas Bank with DBIL ...Middle East

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Govt approves merger of Lakshmi Vilas Bank with DBIL
source : Devdiscourse ( Middle East ) () 29
The 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 crore of deposits with LVB are fully secured and they should not worry.

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