{"id":239677,"date":"2020-11-26T10:20:35","date_gmt":"2020-11-26T04:50:35","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=239677"},"modified":"2020-11-26T09:55:28","modified_gmt":"2020-11-26T04:25:28","slug":"cabinet-approves-scheme-of-amalgamation-of-lakshmi-vilas-bank-with-dbs-bank-india-limited","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/26\/cabinet-approves-scheme-of-amalgamation-of-lakshmi-vilas-bank-with-dbs-bank-india-limited\/","title":{"rendered":"Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited"},"content":{"rendered":"<blockquote>\n<h3 style=\"text-align: center;\"><span style=\"color: #008000;\">Scheme of Amalgamation<\/span><\/h3>\n<\/blockquote>\n<p style=\"text-align: justify;\">The Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).<\/p>\n<p style=\"text-align: justify;\">On 17.11.2020, to protect depositors&#8217; interest and in the interest of financial and banking stability, on RBI&#8217;s application under section 45 of the Banking Regulation Act, 1949, LVB had been under a moratorium for a period of 30 days. In parallel, RBI, in consultation with Government, superseded the Board of Directors of LVB and appointed an Administrator to protect the depositors&#8217; interest.<\/p>\n<p style=\"text-align: justify;\">After inviting suggestions and objections from the public and stakeholders, RBI prepared and provided a scheme for the bank&#8217;s amalgamation for the Government&#8217;s sanction, well in. advance of the end of the period of moratorium so that restrictions on withdrawal faced by the depositors are minimised. With the approval of the scheme, LVB will be amalgamated with DBIL from the appointed date, and with this there will no further restrictions on the depositors regarding the withdrawal of their deposits.<\/p>\n<p style=\"text-align: justify;\">DBIL is a banking company licenced by RBI and operating in India through wholly-owned subsidiary model, DBIL has a strong balance sheet, with strong capital support and it has the advantage of a strong parentage of DBS, a leading financial services group in Asia, with presence in 18 markets and headquartered and listed in Singapore. The combined balance-sheet of DBIL would remain healthy even after amalgamation and its branches would increase to 600.<\/p>\n<p style=\"text-align: justify;\">The speedy amalgamation and resolution of the stress in LVB is in line with the Government&#8217;s commitment to a clean banking system while protecting the interests of depositors and the public as well as the financial system.<\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><strong>Cabinet<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 25-11-2020]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scheme of Amalgamation The Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with <\/p>\n","protected":false},"author":8808,"featured_media":209514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29535,4],"tags":[11441,30554,44206,44105,22074,2611,22854],"class_list":["post-239677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet_decisions","category-legislationupdates","tag-banking","tag-cabinet","tag-dbs-bank","tag-lakshmi-vilas-bank","tag-moratorium","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>Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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scheme of amalgamation\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. DBIL is a wholly-owned\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":"","width":0,"height":0},"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":239677,"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":239677,"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":239677,"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":239677,"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":239677,"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\/239677","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=239677"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/239677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209514"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=239677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=239677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=239677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}