DBS wanted to buy 50% stake of Lakshmi Vilas Bank in 2018, RBI did not agree: Promoter

Singapore-based DBS Bank, in 2018, wanted to acquire 50 percent stake in the Tamilnadu-based Lakshmi Vilas Bank (LVB) for above Rs100 per share, said one of the promoters of the bank. DBS’ Indian arm has now been chosen by the banking regulator Reserve Bank of India (RBI) to bail out the crisis-ridden LVB.

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