RBI’s swift resolution of Lakshmi Vilas Bank to keep up sector stability: S&P
S&P Global Ratings on Thursday said the Reserve Bank of India's swift resolution of troubled Lakshmi Vilas Bank will keep virus under control and help keep up soundness in the banking system.
The Reserve Bank has proposed merging Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL).
As a feature of the proposition, DBIL, the entirely possessed auxiliary of Singapore-based DBS Bank, will infuse Rs 2,500 crore into the consolidated substance to help its financial position.
S&P said this arrangement is positive for India's financial area and will carry genuinely necessary help to LVB, which has been battling for a long time.
The Reserve Bank of India (RBI) had put the private-area loan specialist under brief restorative activity (PCA, or under watch by the national ban...