Tuesday, 25 January, 2022
TopicLakshmi Vilas Bank

Topic: Lakshmi Vilas Bank

DBS Group faces lawsuit after Lakshmi Vilas Bank takeover

DBS’s Lakshmi Vilas acquisition was the first time the RBI turned to a foreign lender to bail out a local bank due to the shadow banking crisis.

DBS buyout of Lakshmi Vilas Bank shows India’s banking sector is opening, Sitharaman says

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.

Govt approves merger of Lakshmi Vilas Bank with DBS India

The withdrawal restrictions have also been lifted. Union Minister Prakash Javadekar said those responsible for deteriorating financial health of the bank would be penalised.

Two years back, RBI had rejected DBS Bank’s bid for 50% stake in Lakshmi Vilas Bank

RBI has put struggling LVB under moratorium, and proposed its merger with DBS’ India subsidiary DBIL. In 2018, LVB was valued at Rs 3,500-5,000 crore.

Lakshmi Vilas institutional investors to oppose RBI’s proposal to merge bank with DBS

After putting Lakshmi Vilas Bank on moratorium Wednesday, RBI announced a draft scheme of amalgamation between LVB and DBS India Ltd.

Good move by RBI to pick DBS to rescue Lakshmi Vilas Bank, govt should now bring FRDI Bill back

ThePrint view on the most important issues, instantly.

With Lakshmi Vilas Bank, RBI has got its rescue act right

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.

How RBI moved quickly to save Lakshmi Vilas Bank, and why it chose Singapore’s DBS for merger

Ignoring shadow banks, the banking regulator chooses the Singapore govt-owned lender due to its India commitment with the subsidiary route.

Received indicative non-binding offer from Clix Group, says Lakshmi Vilas Bank

The bank said that it will continue to share information on material developments as and when they materialise.

Cash-strapped Lakshmi Vilas Bank’s plan B to stay afloat — Rs 500-crore rights issue

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.

On Camera

YourTurn

Why Federal Reserve will no longer have pandemic-era investors’ backs

Inflation is top of mind for all leaders in Washington and US President Joe Biden, whose approval ratings are sliding, appears less inclined to count on hope as a strategy.

SEBI seeks tighter environmental, social & governance rules to address risk of greenwashing

In a consultation paper released Monday, SEBI said increasing reliance on unregulated ESG rating providers poses risks to investor protection, transparency & efficiency of markets.

Defence

File photo of Scorpene-class submarine 'INS Vela', at the Naval Dockyard in Mumbai | ANI

Kamov choppers, submarine torpedoes among deals defence ministry will review this week

Ministry is reviewing all procurement under the ‘Buy (Global)’ category, under which equipment is bought directly from foreign manufacturers, amid govt's 'Atmanirbhar' push.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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