The Reserve Bank of India (RBI) has unveiled a draft scheme to amalgamate private sector lender Lakshmi Vilas Bank (LVB) with DBS Bank India (DBIL). The decision followed soon after the RBI imposed a one-month moratorium on the private lender and capped deposit withdrawals at Rs 25,000.
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.