Sitharaman Tuesday lauded the RBI’s efforts in steering the bailout of Lakshmi Vilas Bank by allowing a local unit of Singapore’s DBS Group Holdings Ltd. to buy the failed lender.
RBI has wisely decided to put Lakshmi Vilas Bank out of its misery. Better still, it’s called upon a foreign institution to take over assets & liabilities.
With no govt-led resolution plan yet, crisis-ridden Lakshmi Vilas Bank could get institutional investor support to raise fund. LIC, Aditya Birla Sun Life Insurance, Indiabulls are among its investors.
During Dhanlaxmi bank’s 93rd annual general meeting, 90.49 per cent of the total valid votes were polled against Sunil Gurbaxani's appointment as MD and CEO of the bank.
In the last week, cash-strapped Lakshmi Vilas Bank has seen shareholders vote out its top management, raising concerns over the proposed merger deal with Clix Capital.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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