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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.

On Lakshmi Vilas Bank and Yes Bank, Shaktikanta Das says action taken in depositor interest

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.

How much interest rate will Lakshmi Vilas Bank bank account holders get on their savings accounts and fixed deposits after merger with DBS

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.

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.

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.

As Lakshmi Vilas Bank turns into DBS Bank, Anil Singhvi maps the road ahead for shareholders

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

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.

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.

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.

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)

Lakshmi Vilas Bank merger with DBS Bank approved by Cabinet

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

Lakshmi Vilas Bank share price tanks over 55 pct in 7 trading sessions

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.

''Lakshmi Vilas Bank-DBS Bank India amalgamation fishy scheme''

''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.

Proposed LVB-DBS merger a remarkable job: RBI board member

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

Lakshmi Vilas Bank Cash Withdrawal: Bank account holders on street, this is what they said

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

Lakshmi Vilas Bank share price hits 20% lower circuit after RBI puts bank under moratorium

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.

Lakshmi Vilas Bank in crisis! Anil Singhvi decodes way out for beleaguered shareholders, says do this now

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

Lakshmi Vilas Bank shareholders not to get anything, key managerial personnel may lose job

Tue, Nov 17, 2020

The shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) may not be getting anything as per the Reserve Bank of India`s (RBI) draft scheme for its amalgamation with DBS Bank India.

Probe all officials, including of RBI, on Lakshmi Vilas Bank watch: AIBEA

Tue, Nov 17, 2020

Finance Minister Nirmala Sitharaman should intervene in the Lakshmi Vilas Bank (LVB) issue and announce that it would be amalgamated with a public sector bank, the All India Bank Employees` Association (AIBEA) said on Tuesday.

RBI's decision a part surprise: Former LVB Director

Tue, Nov 17, 2020

The Reserve Bank of India`s (RBI) decision to propose amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank India came partly as a surprise, said an outgoing Director of LVB.

Lakshmi Vilas Bank placed under moratorium by RBI; withdrawals for bank account holders restricted at Rs 25,000

Lakshmi Vilas Bank placed under moratorium by RBI; withdrawals for bank account holders restricted at Rs 25,000

Tue, Nov 17, 2020

RBI has placed private-sector lender Lakshmi Vilas Bank Ltd under a moratorium and has restricted withdrawals of more than 25,000 rupees ($335.80), according to a finance ministry statement on Tuesday.

Stocks in Focus on October 9: Vedanta, Dr Reddy’s, Lakshmi Vilas Bank to CONCOR; here are the 5 Newsmakers of the Day

Stocks in Focus on October 9: Vedanta, Dr Reddy’s, Lakshmi Vilas Bank to CONCOR; here are the 5 Newsmakers of the Day

Fri, Oct 09, 2020

Stocks in Focus on October 9: Vedanta, Dr Reddy’s, Lakshmi Vilas Bank, CONCOR, etc. are expected newsmakers throughout the intraday trade session.

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