RBI announces amalgamation of The Lakshmi Vilas bank Ltd and DBS Bank India Limited (DBIL)

RBI announces amalgamation of The Lakshmi Vilas bank Ltd and DBS Bank India Limited (DBIL)

RBI announces the draft scheme of amalgamation of The Lakshmi Vilas Bank with Delhi based DBS Bank India Limited – DBIL. RBI said DBIL has a strong parentage and a healthy balance sheet with strong capital support, adding that its combined balance sheet would remain healthy even after the proposed amalgamation. The apex bank said the draft scheme has been sent to both the banks for their consideration while public comments, including those of their depositors and creditors will be accepted till 20th November and a final decision taken thereafter.