Government mandates merger of Laxmi Vilas Bank with DBIL


On Wednesday, The Union Cabinet held a meeting after which, Union Minister Prakash Javadekar gave a press conference and informed about the important decisions taken by the Cabinet. Javadekar said that the Union Cabinet has approved the proposal for merger of the troubled Lakshmi Vilas Bank with DBIL (Development Bank India Limited). Javadekar informed that the RBI (Reserve Bank of India) had proposed the merger of Lakshmi Vilas Bank with DBIL (Development Bank India Limited). This will provide relief to about 20.5 lakh depositors of the troubled bank. Significantly, jobs…

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Demand for loans have dropped drastically even after liquidity injection.

Home Loan

These are uncertain times and taking a loan with uncertainty looming over your head is not a wise decision. There is no surprise that the masses who are facing the brunt of this uncertainty have therefore not resorted to getting themselves loans, even after a massive liquidity injection by the central government.  India’s outstanding bank loans shrank during the lockdown which stands indicative of the fact that the demands for loans are falling as it is obvious aftermath of the uncertainty that comes with the pandemic.  A total outstanding of…

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Yes bank will be saved by SBI

Yes Bank and SBI

Reserve Bank of India (RBI) has launched “Yes Bank Ltd. Reconstruction Scheme, 2020″, to save Yes bank from defaulting and shutting down. RBI will be supervising the rescue scheme. As a part of the scheme, State Bank of India (SBI) will be purchasing 7.25 billion equity shares of Yes Bank at Rs. 10 each, subject to the approval by SEBI and other regulatory bodies. The purchase of the shares has been approved by the executive committee of the board of SBI. The stake of SBI in Yes bank will remain…

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