{"id":239331,"date":"2020-11-18T17:25:30","date_gmt":"2020-11-18T11:55:30","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=239331"},"modified":"2020-11-18T17:33:58","modified_gmt":"2020-11-18T12:03:58","slug":"lakshmi-vilas-bank-rbi-announces-draft-scheme-of-amalgamation","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/18\/lakshmi-vilas-bank-rbi-announces-draft-scheme-of-amalgamation\/","title":{"rendered":"Lakshmi Vilas Bank: RBI announces Draft Scheme of Amalgamation"},"content":{"rendered":"<p style=\"text-align: justify;\">The Reserve Bank of India has placed in the public domain a draft <a class=\"links\" href=\"https:\/\/rbidocs.rbi.org.in\/rdocs\/content\/pdfs\/DraftS17112020.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">scheme of amalgamation<\/a>\u00a0of The Lakshmi Vilas Bank Ltd. (LVB) with DBS Bank India Ltd. (DBIL), a banking company incorporated in India under Companies Act, 2013, and having its Registered Office at New Delhi.<\/p>\n<p style=\"text-align: justify;\">DBIL is a wholly-owned subsidiary of DBS Bank Ltd, Singapore (\u201cDBS\u201d), which in turn is a subsidiary of Asia\u2019s leading financial services group, DBS Group Holdings Limited and has the advantage of a strong parentage. It has been issued a banking license to operate as a banking company under Section 22 (1) of the B.R Act, on October 4, 2018. DBIL has a healthy balance sheet, with strong capital support. As on June 30, 2020, its total Regulatory Capital was \u20b97,109 crore (against Capital of \u20b97,023 crore as on March 31, 2020). As on June 30, 2020, its GNPAs and NNPAs were low at 2.7% and 0.5% respectively; Capital to Risk-Weighted Assets Ratio (CRAR) was comfortable at 15.99% (against requirement of 9%), and Common Equity Tier-1 (CET-1) capital at 12.84% was well above the requirement of 5.5%. Although the DBIL is well capitalised, it will bring in additional capital of \u20b92500 crore upfront, to support credit growth of the merged entity. Owing to a comfortable level of capital, the combined balance sheet of DBIL would remain healthy after the proposed amalgamation, with CRAR at 12.51% and CET-1 capital at 9.61%, without taking into account the infusion of additional capital.<\/p>\n<p style=\"text-align: justify;\">The Reserve Bank invites suggestions and objections, if any, from members, depositors and other creditors of transferor bank (LVB) and transferee bank (DBIL), on the draft scheme, which may be sent to the address mentioned in the \u201c<a class=\"links\" href=\"https:\/\/rbidocs.rbi.org.in\/rdocs\/content\/pdfs\/NOTICE17112020.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Notice<\/a>\u201d. The draft scheme has also been sent to transferor bank and transferee bank for their suggestions and objections. The suggestions and objections will be received by Reserve Bank up to 5.00 PM on November 20, 2020. The Reserve Bank will take a final view thereafter.<\/p>\n<p style=\"text-align: justify;\">It may be recalled that The Lakshmi Vilas Bank<strong>\u00a0<\/strong>Ltd. has been placed under an order of moratorium on November 17, 2020, which will be effective up to December 16, 2020.<\/p>\n<hr \/>\n<p><strong>Reserve Bank of India<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 17-11-2020]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India has placed in the public domain a draft scheme of amalgamation\u00a0of The Lakshmi Vilas Bank Ltd. (LVB) <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[40066,44118,44105,29785,2611,22854],"class_list":["post-239331","post","type-post","status-publish","format-standard","hentry","category-business_news","category-news","tag-banking-company","tag-dbs-bank-india-limited","tag-lakshmi-vilas-bank","tag-law","tag-RBI","tag-scheme-of-amalgamation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lakshmi Vilas Bank: RBI announces Draft Scheme of Amalgamation | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/18\/lakshmi-vilas-bank-rbi-announces-draft-scheme-of-amalgamation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lakshmi Vilas Bank: RBI announces Draft Scheme of Amalgamation\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of India has placed in the public domain a draft scheme of amalgamation\u00a0of The Lakshmi Vilas Bank Ltd. 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On 17.11.2020, to protect depositors' interest and in the interest of financial and banking stability, on RBI's application under section 45 of the\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":239905,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/30\/rbi-lakshmi-vilas-bank-limited-branches-to-operate-as-dbs-bank-india-limited-branches\/","url_meta":{"origin":239331,"position":1},"title":"RBI | Lakshmi Vilas Bank Limited branches to operate as DBS Bank India Limited branches","author":"Bhumika Indulia","date":"November 30, 2020","format":false,"excerpt":"The Government of India sanctioned the Scheme for the amalgamation of the Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd. The amalgamation came into force on the Appointed date i.e. November 27, 2020. Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":301570,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/09\/15\/supreme-court-relieves-dbs-against-criminal-liability-after-non-voluntary-amalgamation-laxmi-vilas-bank\/","url_meta":{"origin":239331,"position":2},"title":"RBI\u2019s Amalgamation Scheme aimed at securing larger public interest and banking industry\u2019s health: Supreme Court","author":"Ridhi","date":"September 15, 2023","format":false,"excerpt":"Supreme Court clarified that Clause 3(3) of amalgamation scheme does mention regarding continuation of legal proceedings by or against a transferee bank, but such amalgamation is aimed at securing larger public interest.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"non voluntary amalgamation","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/09\/non-voluntary-amalgamation.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/09\/non-voluntary-amalgamation.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/09\/non-voluntary-amalgamation.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/09\/non-voluntary-amalgamation.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":239307,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/18\/moratorium-central-government-places-lakshmi-vilas-bank-under-moratorium-for-30-days-in-the-absence-of-a-credible-revival-plan\/","url_meta":{"origin":239331,"position":3},"title":"[Moratorium] Central Government places Lakshmi Vilas Bank under Moratorium for 30-days in the absence of a credible revival plan","author":"Bhumika Indulia","date":"November 18, 2020","format":false,"excerpt":"BACKGROUND The financial position of The Lakshmi Vilas Bank Ltd. (the bank) has undergone a steady decline with the bank incurring continuous losses over the last three years, eroding its net-worth. In absence of any viable strategic plan, declining advances and mounting non-performing assets (NPAs), the losses are expected to\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":378926,"url":"https:\/\/www.scconline.com\/blog\/post\/2026\/03\/20\/bom-hc-pmc-bank-unity-bank-amalgamation-upheld\/","url_meta":{"origin":239331,"position":4},"title":"Bombay HC affirms RBI\u2019s revival plan of Punjab and Maharashtra Co-operative Bank \u2014Unity Small Finance Bank amalgamation scheme","author":"Soumya Yadav","date":"March 20, 2026","format":false,"excerpt":"The Bombay High Court noted that RBI framed the PMC Bank\u2014Unity Bank amalgamation scheme during a period of severe financial stress for PMC Bank, and held that the measures, including depositor classification and reduced interest, were valid steps taken in public interest.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"PMC Bank Unity Bank","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":236574,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/10\/01\/banking-regulation-amendment-act-2020-rbi-to-prepare-a-scheme-for-reconstruction-or-amalgamation-of-banking-company-without-necessity-of-a-moratorium-order\/","url_meta":{"origin":239331,"position":5},"title":"Banking Regulation (Amendment) Act, 2020 | Co-operative banks brought under RBI supervision","author":"Bhumika Indulia","date":"October 1, 2020","format":false,"excerpt":"Banking Regulation (Amendment) Bill, 2020 received Presidential Assent on 29-09-2020. The Banking Regulation (Amendment) Act, 2020 The Banking Regulation (Amendment) Act, 2020 will replace the Banking Regulation (Amendment) Ordinance, 2020. Certain amendments were considered necessary in the said Act to provide for better management and proper regulation of co-operative banks\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/239331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=239331"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/239331\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=239331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=239331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=239331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}