Proposed LVB-DBS merger a remarkable job: RBI board member
RBI board member Manish Sabharwal on Thursday praised the central bank on its proposal to merge Lakshmi Vilas Bank (LVB) with the Indian arm of Singapore-based DBS Bank, saying the scheme is a new template where a distressed private sector entity is rescued by another private player
Government imposed a 30-day moratorium on LVB, restricting cash withdrawals at Rs 25,000 per depositor, and simultaneously announced merger of the cash-strapped lender with DBS Bank India.