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RBI Delays Till Next Week Final Merger Scheme for Lakshmi Vilas Bank with DBS India

RBI Delays Till Next Week Final Merger Scheme for Lakshmi Vilas Bank with DBS India
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Mumbai: The Reserve Bank did not issue the final merger scheme for Lakshmi Vilas Bank (LVB) with DBS India on Friday as stated earlier and is likely to do so only next week, according to a central bank official.

While placing LVB under a moratorium and then issuing a draft amalgamation scheme on November 17, the RBI had said it would issue the final merger scheme on November 20 (Friday) so as to help complete the resolution for the 94-year-old lender by December 16.

However, as of 2200 hrs on Friday, the central bank did not issue the final merger scheme. When contacted, a senior RBI official told.—PTI

Updated : 21 Nov 2020 2:50 PM GMT
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