Lakshmi Vilas Bank placed under moratorium, withdrawals capped at Rs 25,000; RBI proposes merger with DBS Bank
TN Manoharan, former non-executive chairman of Canara Bank, has been appointed as the administrator of the bank
With 'uncertainty' about Lakshmi Vilas Bank deal over now, it is business as usual with more agility, says Indiabulls MD Banga
Entering the banking space would have given IBHFL access to cheap deposits and saved it from regular crises like being faced by the shadow banks now
The application for the merger of Lakshmi Vilas Bank and India Bulls Housing Finance was made in May after both the parties agreed to the merger in April.
Lakshmi Vilas Bank independent director resigns citing personal reasons, move comes days after RBI action against lender
Earlier this week on Monday, Indiabulls Housing Finance had said that the RBI's action against it would not impact its merger with Lakshmi Vilas Bank.
Lakshmi Vilas Bank to allot nearly 5% equity shares to Indiabulls Housing Finance on preferential basis
It is expected that the relevant date (of allotment of equity) could be by the end of April 2019, Lakshmi Vilas Bank said
Lakshmi Vilas Bank customers will now be able to use their mobile to pay for mobile recharge, utility bills, movie and flight tickets, online purchases and retail shopping.