Relief for Lakshmi Vilas bank depositors as govt approves merger with DBS Bank India

India Today | Nov 25, 2020 at 6:26 PM
  • There is good news for depositors of the beleaguered Lakshmi Vilas Bank (LVB).
  • Customers of the bank including depositors would be able to operate their accounts from Friday after its amalgamation with DBS Bank India was approved by the government today.
  • In an attempt to assure depositors, the government challenged the charge by SJM that Indian banks merger with a foreign bank exposes the risks of the foreign bank.