New Delhi: Lakshmi Vilas Bank Latest News: The big decision of the Reserve Bank of India about the bank again. The RBI has decided to keep the financially lack Lakshmi Vilas Bank in the moratorium till December 16. As a result, some rules have been applied to the customers of the bank. Till the next month, customers will not be able to withdraw more than Rs.25,000 from this bank. This is not the end of the decision of the Reserve Bank and the impact of the big decision on the customers of Lakshmi Vilas Bank.
The RBI has decided to merge with DBS Bank India Ltd to save the loss-making and financially strapped Lakshmi Vilas Bank. DBS Bank is going to invest Rs 2,500 crore in Lakshmi Vilas Bank to save it. Lakshmi Vilas Bank will get growth support
According to Section 45 of the BR Act, Lakshmi Vilas Bank has been kept in the moratorium at the request of the RBI. As a result, customers will not be able to withdraw more than Rs.25,000 from this bank. If you need to withdraw money for any reason more than this, you have to take permission from the Reserve Bank.
The 93-year-old Chennai-based private bank’s rating was downgraded by the CARE Ratings last month. BB minus 6 comes straight down from tier 2 slab, However, as per the Central’s decision, merging with DBS Bank will eliminate the capital required to run the bank.