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Lakshmi Vilas Bank merger with DBS India cleared by cabinet

Shortpedia

Content Team
Image Credit: shortpedia

The Union Cabinet approved the amalgamation of the Karur based 94-year old Lakshmi Vilas Bank (LVB) with DBS Bank India, a subsidiary of DBS Bank, Singapore. Union Minister Prakash Javadekar said the cabinet has approved the amalgamation of LVB with DBS Bank. Javadekar said liability will be fixed for wrongdoings in LVB on the board members that has been removed.