Lakshmi Vilas Bank merger with DBS India approved, no more restrictions on withdrawals

Days after a month long moratorium was imposed on the Tamil Nadu based Lakshmi Vilas Bank, the Union Cabinet on Wednesday approved the scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited. With this, there'll be no further restrictions on depositors regarding the withdrawal of their deposits, informed Union Minister Prakash Javadekar.

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