Lakshmi Vilas Bank
Lakshmi Vilas Bank (LVB) logo, website tweaked post DBS merger; customers asked to use existing accounts
Tue, Dec 08, 2020
Customers of erstwhile Lakshmi Vilas Bank (LVB), now owned by DBS Bank India Ltd, have been asked to continue using their existing accounts and other facilities, while the lender's website and logo now bear the DBS name alongside.
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On Lakshmi Vilas Bank and Yes Bank, Shaktikanta Das says action taken in depositor interest
Fri, Dec 04, 2020
Governor Shaktikanta Das on Friday defended RBI's decisions to write-off bonds and shares of lenders during rescues of Lakshmi Vilas Bank and Yes Bank as legal ones taken in depositors' interest.
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How much interest rate will Lakshmi Vilas Bank bank account holders get on their savings accounts and fixed deposits after merger with DBS
Mon, Nov 30, 2020
Lakshmi Vilas Bank bank account interest rate: As LVB has now been amalgamated with DBS Bank India Ltd (DBIL), there was much confusion among account holders and others about the interest rate it would offer on its savings bank account and fixed deposits
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Lakshmi Vilas Bank merger with DBS Bank India: Keep aside amount equivalent to LVB's share capital, says Madras HC
Fri, Nov 27, 2020
Lakshmi Vilas Bank merger with DBS Bank India: The Madras High Court on Friday passed an order, asking DBS Bank India Ltd to give an undertaking that it would compensate the shareholders of 94-year-old Lakshmi Vilas Bank (LVB) in case the writ petition filed against the amalgamation scheme is decided against it, said the petitioner`s advocates.
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Lakshmi Vilas Bank shareholders compensation: Mumbai HC admits writ petition
Thu, Nov 26, 2020
Lakshmi Vilas Bank shareholders compensation: Shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) have started knocking the doors of justice for a fair valuation of their bank, the amalgamation of which takes effect from Friday onwards.
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Lakshmi Vilas Bank writes off bonds worth Rs 318 cr ahead of merger with DBS Bank
Thu, Nov 26, 2020
A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions.
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As Lakshmi Vilas Bank turns into DBS Bank, Anil Singhvi maps the road ahead for shareholders
Thu, Nov 26, 2020
In a major development for the customers of Lakshmi Vilas Bank (LVB), the resolution process has been completed in just a week’s time. The bank will be renamed as DBS India now. However, The trading in Lakshmi Vilas Bank shares has been suspended from today. What does this mean for the investors? Zee Business Managing Editor Anil Singhvi gives his take on the development
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Lakshmi Vilas Bank shares suspended for trading from Thursday, says NSE
Wed, Nov 25, 2020
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.
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Come Friday, your Lakshmi Vilas Bank will become DBS Bank India
Wed, Nov 25, 2020
Lakshmi Vilas Bank-DBS Bank merger: Crisis-hit Lakshmi Vilas Bank (LVB) will merge into the Indian arm of Singapore-based DBS Bank on Friday, leading to removal of all restrictions, including withdrawal cap of Rs 25,000, which the RBI had placed on the lender earlier this month.
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Lakshmi Vilas Bank moratorium ends on Nov 26; good news for account holders, cap on cash withdrawals ends Nov 27
Wed, Nov 25, 2020
Lakshmi Vilas Bank (LVB) moratorium period will come to an end on Thursday and normal banking operations would commence thereafter, RBI-appointed administrator T.N. Manoharan said. That means cap on cash withdrawals for bank account holders goes too.
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Lakshmi Vilas Bank share price bounces back, jumps nearly 5 pct
Wed, Nov 25, 2020
Lakshmi Vilas Bank share price bounced back on Wednesday after falling for almost a week, rising by nearly 5 per cent following the government approval for merger of the crisis-ridden bank with DBS Bank India Ltd (DBIL)
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Lakshmi Vilas Bank merger with DBS Bank approved by Cabinet
Wed, Nov 25, 2020
In a major development for the beleaguered Lakshmi Vilas Bank (LVB), its merger with the Singapore-based DBS Bank has received an approval from the Cabinet. The issue came up for discussion before the cabinet today. Lakshmi Vilas Bank share price has been heading downhill, falling by over 55 per cent over the last 7 trading sessions
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Lakshmi Vilas Bank share price tanks over 55 pct in 7 trading sessions
Wed, Nov 25, 2020
The government has placed Lakshmi Vilas Bank (LVB) under one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor. The step was taken on the advice of the Reserve Bank of India, in view of the declining financial health of the private sector lender.
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''Lakshmi Vilas Bank-DBS Bank India amalgamation fishy scheme''
Sat, Nov 21, 2020
Concerned citizens, shareholders and a major union in the banking sector are of the view that the Reserve Bank of India (RBI) mooted amalgamation scheme for Lakshmi Vilas Bank (LVB) with DBS Bank India, a subsidiary of the DBS Bank, Singapore is fishy.
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Proposed LVB-DBS merger a remarkable job: RBI board member
Fri, Nov 20, 2020
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
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Lakshmi Vilas Bank Cash Withdrawal: Bank account holders on street, this is what they said
Wed, Nov 18, 2020
The RBI has allowed withdrawal up to Rs 25,000 till 16 December. Many customers fear a repeat of the PMC bank like situation. Lakshmi Vilas Bank employees have been reassuring the depositors that their money is safe with the bank. Zee Business’ Anurag Shah spoke with the customers who have accounts at LVB’s Borivali (Mumbai) branch
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Lakshmi Vilas Bank share price hits 20% lower circuit after RBI puts bank under moratorium
Wed, Nov 18, 2020
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.
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Lakshmi Vilas Bank in crisis! Anil Singhvi decodes way out for beleaguered shareholders, says do this now
Wed, Nov 18, 2020
Zee Business Managing Editor Anil Singhvi has advised investors not to buy Lakshmi Vilas Bank (LVB) shares based on considerations of takeover by the multi-national bank DBS. Market Guru said that investors who are holding this stock should try to exit it
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