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News Details

Lakshmi Vilas Ba - The Lakshmi Vilas Bank Ltd. Branches To Operate As DBS Bank India Ltd. Branches From November 27, 2020 Ref

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25/11/2020 19:48
In furtherance to the intimation filed as referred above, the Reserve Bank of India has issued a press release today that the amalgamation will come into force on the Appointed date i.e. November 27, 2020 and all the branches of the Lakshmi Vilas Bank Ltd. will function as branches of DBS Bank India Ltd. with effect from this date.

Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as customers of DBS Bank India Ltd. with effect from November 27, 2020. Consequently, the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date. DBS Bank India Ltd. is making necessary arrangements to ensure that service, as usual, is provided to the customers of the Lakshmi Vilas Bank Ltd.

The Press Release issued by Reserve Bank of India dated 25.11.2020 is also attached herewith.

This is for your kind information and records.