Laskshmi Vilas set to merge with DBS India

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By Pan Yue
18 Nov 2020

Lakshmi Vilas Bank is set to merge with DBS Bank’s operations in India, under a central bank plan to save the cash-strapped local lender.

The Reserve Bank of India has proposed a draft scheme to merge the two banks, it said on Tuesday. The move is expected to throw a lifeline to Lakshmi Vilas, which is under financial stress, as well as to allow DBS India to build up its client base, ...

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