{"id":239905,"date":"2020-11-30T11:58:59","date_gmt":"2020-11-30T06:28:59","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=239905"},"modified":"2020-11-30T11:58:59","modified_gmt":"2020-11-30T06:28:59","slug":"rbi-lakshmi-vilas-bank-limited-branches-to-operate-as-dbs-bank-india-limited-branches","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/30\/rbi-lakshmi-vilas-bank-limited-branches-to-operate-as-dbs-bank-india-limited-branches\/","title":{"rendered":"RBI | Lakshmi Vilas Bank Limited branches to operate as DBS Bank India Limited branches"},"content":{"rendered":"

The Government of India sanctioned the Scheme for the amalgamation<\/a> 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.<\/p>\n

Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as customers of DBS Bank India Ltd. with effect from November 27, 2020. Consequently, the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date. DBS Bank India Ltd. is making necessary arrangements to ensure that service, as usual, is provided to the customers of the Lakshmi Vilas Bank Ltd.<\/p>\n

\n

[<\/strong>Press Release dt. 25-11-2020]<\/strong><\/p>\n

Reserve Bank of India<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Government of India sanctioned the Scheme for the amalgamation of the Lakshmi Vilas Bank Ltd. with DBS Bank India 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 "Cabinet Decisions"","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":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":239905,"position":2},"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. 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