Lakshmi Vilas Bank comes under moratorium till 16 Dec, Withdrawals capped to Rs. 25000

7 months ago 24

Chennai based private sector lender Lakshmi Vilas Bank is brought under moratorium till December 16, 2020, based on the news by the Reserve Bank of India. An order is issued by the Ministry of Finance.

Due to the amounting financial losses for two years, its net worth has been eroded moving into unstable financial.

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