Quick Summary
The Government of India has today sanctioned theScheme for the amalgamationof the Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd. The amalgamation will come into force on the Appointed date i.e. November 27, 2020. All the branches of the Lakshmi Vilas Bank Ltd. will function as branches of DBS Bank
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FAQ :
Lakshmi Vilas Bank branches will operate as DBS Bank India branches from November 27, 2020.
Customers, including depositors, will be able to operate their accounts as customers of DBS Bank India Ltd. with effect from November 27, 2020.
DBS Bank India Ltd. is making arrangements to ensure that service continues as usual for customers of Lakshmi Vilas Bank Ltd.
The amalgamation of Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd. comes into force on November 27, 2020.
No, the moratorium on Lakshmi Vilas Bank Ltd. will cease to be operative from November 27, 2020.
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