Lakshmi Vilas Bank share price hits 20% lower circuit after RBI puts bank under moratorium
Lakshmi Vilas Bank was added to the list of recent financial sector failures. The 93-year-old lender was placed under moratorium and is to be merged with DBS Bank India, after many quarters of weakening financials. This was in contrast to what happened with Punjab and Maharashtra Co-operative (PMC) Bank where depositors’ pain still continues.
Investors have seen failure of IL&FS, DHFL, Yes Bank, PMC Bank, and now Lakshmi Vilas Bank: Reuters