Tuesday, 25 January, 2022
TopicLakshmi Vilas Bank

Topic: Lakshmi Vilas Bank

DBS Group faces lawsuit after Lakshmi Vilas Bank takeover

Chanyaporn Chanjaroen -
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

Suvashree Ghosh -
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

PTI -
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

Manojit Saha -
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

Manojit Saha -
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 Team -
ThePrint view on the most important issues, instantly.

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

Andy Mukherjee -
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

Manojit Saha -
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

ANI -
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

Manojit Saha -
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.
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