Wednesday, 18 November 2020

Lakshmi Vilas Bank Shares Tank 20% After Getting Placed Under Moratorium

On Tuesday, the government placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender.

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