RBI rejects proposed merger of Lakshmi Vilas Bank with Indiabulls Housing Finance1 min read . Updated: 09 Oct 2019, 08:19 PM IST
- This comes days after the RBI initiated a 'prompt corrective action' on Lakshmi Vilas Bank
- The news could pressure the shares of LVB and Indiabulls, both of which have fallen to multi-year lows after being hit by allegations of misconduct
Lakshmi Vilas Bank Ltd said on Wednesday the central bank has not approved its merger with Indiabulls Housing Finance Ltd.
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