RBI rejects proposed merger of Lakshmi Vilas Bank with Indiabulls Housing Finance
This comes days after the RBI initiated a 'prompt corrective action' on Lakshmi Vilas Bank.The news could pressure the shares of LVB and Indiabulls, both of which have fallen to multi-year lows after being hit by allegations of misconduct
Lakshmi Vilas Bank Ltd said on Wednesday the central bank has not approved its merger with Indiabulls Housing Finance Ltd.
Ending months of uncertainty around the proposed merger, the Lakshmi Vilas Bank (LVB) on Wednesday said in a stock exchange filing, "Th
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