Lakshmi Vilas Bank shares suspended for trading from Thursday, says NSE
The National Stock Exchange (NSE) has said that it will suspend trading on the shares of the Lakshmi Vilas Bank (LVB) with effect from Thursday. The development comes after the Union Cabinet on Wednesday approved the merger of the bank with DBS Bank India Ltd. The moratorium period on the bank ends on Thursday.
From November 27, the 94-year-old Karur-headquartered Lakshmi Vilas Bank will cease to exist officially and be amalgamated with DBS Bank India Ltd, a subsidiary of DBS Bank, Singapore.