Moratorium slapped on Lakshmi Vilas Bank, Rs 25,000 cap imposed: What it means for customers
The government on Tuesday imposed moratorium on Lakshmi Vilas Bank (LVB) and capped cash withdrawal at Rs 25,000 in a month. The step was taken on the advice of the Reserve Bank in view of the private sector bank's deteriorating financial health.
The RBI placed in the public domain a draft scheme of amalgamation of LVB with DBS Bank India Ltd (DBIL). Source - PTI.