approves Scheme of Amalgamation of Lakshmi Vilas Bank
with DBS Bank India Limited. With this, there'll be no further restrictions on depositors regarding the withdrawal of their deposits," he said, according to news agency ANI.
The RBI’s proposed plan would give the Singaporean bank’s expansion ambitions a fillip as it would vastly increase the footprint of DBS in India, where it only has around 30 branches, according to Reuters..
Chennai-headquartered LVB, by contrast, has a vast network of more than 550 branches and 900-plus ATMs across India.
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