DBS deal puts an end to LVB’s long struggle to find its feet3 min read . Updated: 19 Nov 2020, 07:49 AM IST
- While LVB gets a lifeline, DBS Bank India gets access to more than ₹20,000 crore of low-cost funds
With the proposed merger of Lakshmi Vilas Bank (LVB) with DBS Bank India, the Reserve Bank of India has brought to an end an almost two-year tumultuous journey of the 94-year-old lender, which struggled to find a new investor even as its financial metrics crashed and bad loans skyrocketed.
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