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DBS Bank is a leading global bank that acquired Lakshmi Vilas Bank in 2020. Find out how the amalgamation affects your personal or corporate banking needs and explore DBS Bank's awards, presence and services.
Lakshmi Vilas Bank was an Indian private sector bank established in 1926 in Karur, Tamil Nadu. As of November 2020, the bank had 566 branches in 19 states and 1 union territory. On 27 November 2020, the bank was merged into the Indian subsidiary of DBS Bank.
India, 30 Nov 2020 - Lakshmi Vilas Bank (LVB) is now amalgamated with DBS Bank India Limited (DBIL), the wholly owned subsidiary of DBS Group Holdings Ltd. The scheme of amalgamation is under the special powers of the Government of India and Reserve Bank of India under Section 45 of the Banking Regulation Act, 1949, India, and came into effect ...
Lakshmi Vilas Bank (LVB) is now amalgamated with DBS Bank India Limited (DBIL), the wholly owned subsidiary of DBS Group Holdings Ltd.
Lakshmi Vilas Bank (LVB) is the latest Indian financial firm to fail, following IL&FS, DHFL, Yes Bank and PMC Bank. The RBI has placed LVB under moratorium and will merge it with DBS Bank India, while investigating its mismanagement and fraud.
Learn about the history, cause and mergers of Lakshmi Vilas Bank, a struggling Indian bank that was seized by RBI and merged with DBS Bank in 2020. Find out the latest updates on the bank's financial position, depositors' protection and shareholders' rights.
People also ask
What happened to Lakshmi Vilas Bank?
Is Lakshmi Vilas Bank merged with DBS Bank India Limited?
How many branches does Lakshmi Vilas Bank have?
Why did Lakshmi Vilas Bank amalgamate?
Dec 1, 2020 · Lakshmi Vilas Bank (LVB) has been amalgamated with DBS Bank India Limited (DBIL) effective from 27 November 2020. The moratorium on LVB has been lifted and banking services are normal, but interest rates and services may change after integration.
