Lakshmi Vilas Bank

Friday, Apr 26, 2024 | Last Update : 09:27 AM IST

Forbearance represents emergency medicine that should be discontinued at the first opportunity when the economy exhibits recovery, the survey stated. (Representational Photo:DC)

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Pandemic concessions to banks need a quick end

30 Jan 2021 4:38 AM

Outside view of Lakshmi Vilas Bank, in Mumbai, Wednesday, Nov 18, 2020. Shares of Lakshmi Vilas Bank (LVB) plunged as much as 20 per cent -- lower circuit -- on Wednesday after the Reserve Bank of India (RBI) imposed a 30-day moratorium on the cash-strapped lender, restricting cash withdrawals at Rs 25,000 per month. (PTI Photo)

Lakshmi Vilas Bank shareholders to get nothing after merger with DBS India

However, depositors need not worry as their deposits will be transferred to DBS and would be fully secured

19 Nov 2020 5:18 AM

Lakshmi Vilas Bank placed under moratorium, RBI proposes merger with DBS Bank

As part of the moratorium, the regulator has capped deposit withdrawals by customers to Rs 25,000

18 Nov 2020 3:29 AM

Total income of the bank also fell to Rs 665.33 crore during the second quarter of 2019-20 as compared to Rs 800.50 crore.

Lakshmi Vilas Bank Q2 net loss widens to Rs 357cr as bad loan soars

The bank had posted a net loss of Rs 132.31 crore in the July-September of 2018-19.

09 Nov 2019 5:39 PM

Shares of Syndicate Bank also fell 2.24 per cent to Rs 24 -- its 52-week low.

Lakshmi Vilas Bank, Syndicate Bank shares fall after RBI fine

Lakshmi Vilas Bank scrip went lower by 4.96 per cent to its lower circuit level as well as one-year low of Rs 22.05 on the BSE.

15 Oct 2019 12:37 PM

This brings an end to recent uncertanity and the Bank will continue to work towards raising capital as per the permitted modes in compliance with all applicable Acts and Regulations, Laxmi Vilas Bank's chief financial officer S Sundar said.

Merger failure: Lakshmi Vilas Bank confident of raising capital

LVB is under the prompt corrective action framework of RBI since last month for low levels of capital buffers.

10 Oct 2019 5:24 PM

Shares of Lakshmi Vilas Bank (LVB) sank 5 per cent to hit lower price band as well as one-year low of Rs 25.65 on the BSE.

Indiabulls Housing Finance, Lakshmi Vilas Bank hit 52-week lows

Indiabulls Housing Finance (IBHF) stock tumbled 18.02 per cent to trade at Rs 197 on the BSE.

10 Oct 2019 12:11 PM

Lakshmi Vilas Bank shares tumbled after RBI initiated a prompt corrective action plan against the lender due to high level of bad loans.

Lakshmi Vilas Bank drops 5 pc to hit lower circuit

The bank's scrip declined 4.92 per cent to trade at Rs 34.75 apiece in afternoon deals on the BSE.

30 Sep 2019 12:46 PM

Banks currently under PCA are United Bank of India, Indian Overseas Bank, Central Bank of India, IDBI Bank and UCO Bank. (Photo: AFP)

RBI initiates prompt corrective action against Lakshmi Vilas Bank

PCA is aimed at improving the performance of the bank and will not have any adverse impact on the day-to-day operations

28 Sep 2019 3:40 PM

The directors face charges of cheating, breach of trust, misappropriation and conspiracy, Chennai-based Lakshmi Vilas said in a statement.

India probes Lakshmi Vilas Bank directors for alleged fraud

Religare Finvest has accused Lakshmi Vilas of misappropriating 7.9 billion rupees it kept with the bank as a fixed deposit.

28 Sep 2019 10:41 AM

Calling it a “desperate measure” the bank said the mere registration of FIR against the bank does not mean anything at this stage.

Indiabulls HF, Lakshmi Vilas Bank face probe

The next hearing will be held on December 15.

28 Sep 2019 3:39 AM

Earlier this year, Lakshmi Vilas said it will merge operations with housing finance firm Indiabulls Housing Finance Ltd (IBHF) in a share-swap deal.

Lakshmi Vilas Bank slumps as directors face fraud charges

The EOW’s report was based on a complaint filed by Religare Finvest Ltd.

27 Sep 2019 12:38 PM

The petition has not yet been filed in the High Court as per the website records of Delhi High Court, but has been leaked in the social media with malicious intent and vested interests to create turbulence in the stock price of the company and fulfil ulterior motives, the company said on Friday.

Indiabulls Housing Finance shares tank 10 pc amid reports of PIL against co

The scrip tumbled 9.31 per cent to Rs 406.20 -- its 52-week low -- on the BSE.

06 Sep 2019 1:45 PM

Early this year, Lakshmi Vilas Bank had announced its merger with Indiabulls Housing Finance Ltd in a share-swap deal with an intent to create a combined entity with larger capital base and wider geographical reach.

Working in close cooperation: Lakshmi Vilas Bank on Indiabulls Housing merger

On the recovery of bad loans, the bank said efforts to recover them have gained momentum.

08 Aug 2019 8:56 PM

The latest transaction is part of the Indiabulls Group’s strategy of exiting real estate completely and focusing on financial services as it seeks to merge with Lakshmi Vilas Bank.

Blackstone may buy out Indiabulls Real Estate's commercial properties: Report

The deal, which will give Blackstone full control of the portfolio, is expected to be concluded over the next few weeks.

05 Aug 2019 2:27 PM

The board of Lakshmi Vilas Bank had approved the merger with Indiabulls Housing Finance in which shareholders of the bank will get 14 shares of Indiabulls Housing Finance for every 100 shares they hold.

Indiabulls Housing Finance-Lakshmi Vilas Bank merger gets CCI nod

In April this year, Lakshmi Vilas Bank had announced its merger with Indiabulls Housing Finance in a share-swap deal.

21 Jun 2019 11:24 AM

The board of LVB has approved the merger with IBHL in which shareholders of the bank will get 14 shares of IBHL for every 100 shares they hold.

LVB to allot nearly 5 pc shares to Indiabulls Housing Finance

LVB shares closed 1.65 per cent down at Rs 89.20 on BSE, while IBHL closed 0.55 per cent up at Rs 834.65 apiece.

16 Apr 2019 10:09 AM

The merged entity would be the country’s eighth largest private sector bank by size and profitability.

Lakshmi Vilas board okays merger with Indiabulls HF

The merged entity will be christened as Indiabulls Laxmi Vilas Bank.

06 Apr 2019 1:48 AM

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Sunil Gatade