The Centre on Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank (LVB) under a moratorium for a period of one month, the Ministry of Finance said. Effective 6 pm Tuesday until December 16, borrowers will be allowed to withdraw only up to Rs. 25,000. The RBI also announced a draft scheme of amalgamation of LVB with DBS Bank India Ltd (DBIL).
source https://www.newsbytesapp.com/news/business/centre-places-lakshmi-vilas-bank-under-moratorium/story
source https://www.newsbytesapp.com/news/business/centre-places-lakshmi-vilas-bank-under-moratorium/story
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