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Flashback 2020: RBI gets into rescue mode as banks, non-banks tide over tough year

Finance

29 December, 2020

Flashback 2020: RBI gets into rescue mode as banks, non-banks tide over tough year

In early March, three weeks before most of India went into a lockdown to fight the coronavirus pandemic, the Reserve ......

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Flashback 2020: Virus manages to shoo away almost everyone from stressed assets

Finance

23 December, 2020

Flashback 2020: Virus manages to shoo away almost everyone from stressed assets

The distressed assets market was still going through teething problems from the four-year bankruptcy law when the Covid-19 pandemic struck ......

Singapore's DBS completes takeover of Lakshmi Vilas Bank

Finance

30 November, 2020

Singapore's DBS completes takeover of Lakshmi Vilas Bank

Singapore’s DBS Group said on Monday it had completed its takeover of distressed Lakshmi Vilas Bank, helping it shift from ......

DBS faces potential culture clash as it scoops up Lakshmi Vilas Bank

Finance

19 November, 2020

DBS faces potential culture clash as it scoops up Lakshmi Vilas Bank

DBS Group's move to take over troubled Lakshmi Vilas Bank will give Southeast Asia's largest lender the boost in India ......

Sensex, Nifty hit new record; Lakshmi Vilas Bank sinks 20%

Markets

18 November, 2020

Sensex, Nifty hit new record; Lakshmi Vilas Bank sinks 20%

Indian shares reversed course to close at a record high on Wednesday, as a rally in automotive and banking shares ......

Lakshmi Vilas Bank put under moratorium, to be merged with DBS

Finance

17 November, 2020

Lakshmi Vilas Bank put under moratorium, to be merged with DBS

Lakshmi Vilas Bank has been put under a moratorium and may be merged with the local unit of Singapore’s DBS ......

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Two more senior execs quit Clix Capital ahead of merger with Lakshmi Vilas Bank

Finance

21 October, 2020

Two more senior execs quit Clix Capital ahead of merger with Lakshmi Vilas Bank

Two senior executives of Clix Capital have moved out just months after chief executive officer (CEO) Bhavesh Gupta quit, two ......

AION Capital-backed Clix makes non-binding offer for Lakshmi Vilas Bank

Finance

08 October, 2020

AION Capital-backed Clix makes non-binding offer for Lakshmi Vilas Bank

India's Lakshmi Vilas Bank (LVB) has received a non-binding offer from Clix Group, the private sector lender said on Thursday, ......

Dhanlaxmi Bank shareholders vote for ouster after new CEO ‘shakes things up'

Finance

01 October, 2020

Dhanlaxmi Bank shareholders vote for ouster after new CEO ‘shakes things up'

In yet another instance of investors’ activism, Dhanlaxmi Bank’s chief executive officer and managing director was voted out at the ......

RBI names panel to run Lakshmi Vilas Bank after shareholders reject board reappointments

Finance

28 September, 2020

RBI names panel to run Lakshmi Vilas Bank after shareholders reject board reappointments

The central bank on Sunday announced a panel that would oversee operations of old private-sector lender Lakshmi Vilas Bank a ......