Lakshmi Vilas Bank shareholders not to get anything, key managerial personnel may lose job
The shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) may not be getting anything as per the Reserve Bank of India`s (RBI) draft scheme for its amalgamation with DBS Bank India.
DBS Bank India shall have the option of merging Lakshmi Vilas Bank branches according to its convenience and may close down or shift the existing branches as per the extant instructions issued by the RBI.