The banking sector, in India, has been under stress for several years now.
Both the NBFCs and banking institutions (predominantly, public sector banks) have seen substantial deterioration in their asset quality.
#banknifty #nifty50 #nifty #NASDAQ #writerslife #writing
Both the NBFCs and banking institutions (predominantly, public sector banks) have seen substantial deterioration in their asset quality.
#banknifty #nifty50 #nifty #NASDAQ #writerslife #writing
Over the past two years, we have seen many well-known names within these sectors.
The latest in the series being is the 93-year old #LakshmiVilasBank
#StockMarket #stockstowatch #sharemarket #Zomato
The latest in the series being is the 93-year old #LakshmiVilasBank
#StockMarket #stockstowatch #sharemarket #Zomato
The RBI, yesterday, put LVB under a 30-day moratorium, capping the withdrawal limit by depositors at ₹25,000 from savings and current account, due to a steady decline in its financials.
#finance #banking #culture #Icai #icaiexampostponement
#finance #banking #culture #Icai #icaiexampostponement
The trouble for the bank began after it shifted its focus to large businesses from SMEs.
It lent ₹720 Cr to the former promoters of Fortis Healthcare and pharma Ranbaxy against a fixed deposit of ₹794 crores, which turned out to be a bad loan.
#Pfizer #vaccine #pharmacy
It lent ₹720 Cr to the former promoters of Fortis Healthcare and pharma Ranbaxy against a fixed deposit of ₹794 crores, which turned out to be a bad loan.
#Pfizer #vaccine #pharmacy
March 2020, Laxmi Vilas Bank reported a loss net of INR 836.04 crores and had a gross NPA ratio of 25 %.
Their Tier 1 capital ratio stood at - 0.88 percent against a requirement to maintain it at 10.5 percent.
#BTS2020SwagathaPMModi #Bitcoin #BTC #BTS_BE
Their Tier 1 capital ratio stood at - 0.88 percent against a requirement to maintain it at 10.5 percent.
#BTS2020SwagathaPMModi #Bitcoin #BTC #BTS_BE
Capital Adequacy Ratio (CAR) was at 1.12 % against a requirement of 9%
These prompted the regulator to put bank under the prompt corrective action (PCA) framework.
limiting its ability to issue fresh loans or to open new further branches.
#ratio #loanmoratorium #moratorium
These prompted the regulator to put bank under the prompt corrective action (PCA) framework.
limiting its ability to issue fresh loans or to open new further branches.
#ratio #loanmoratorium #moratorium
MERGER WITH DBS
Attempted and failed, to merge with several firms including India Bulls Housing loans and Clix Capital, the LVB finally got a HITCHED, yesterday with DBS.
#merger #lakshmivilas #Investment #investing #invest #mutualfunds
Attempted and failed, to merge with several firms including India Bulls Housing loans and Clix Capital, the LVB finally got a HITCHED, yesterday with DBS.
#merger #lakshmivilas #Investment #investing #invest #mutualfunds
The #RBI has proposed to merge Lakshmi Vilas Bank with DBS Bank India Ltd (DBIL), a wholly-owned subsidiary of DBS Bank Ltd, Singapore (DBS).
If approved by @MoCA_GoI, it would help DBS Bank to expand its operations in India, rapidly.
#Government #governmentjob
If approved by @MoCA_GoI, it would help DBS Bank to expand its operations in India, rapidly.
#Government #governmentjob
BANK DEPOSITORS OF LAKSHMI VILAS BANK?
RBI has guaranteed all depositors in LVB that their money will be fully secured and there is no need to panic.
All accounts including savings, current, or any other deposit account with LVB will be opened at the DBS.
#ICAI_DENIES_JUSTICE
RBI has guaranteed all depositors in LVB that their money will be fully secured and there is no need to panic.
All accounts including savings, current, or any other deposit account with LVB will be opened at the DBS.
#ICAI_DENIES_JUSTICE
WHAT HAPPENS TO SHAREHOLDERS?
Post merger, the Lakshmi Vilas Bank will cease to exist.
All its shares will be delisted from all the stock exchanges and shareholders will lose the value of the shares that they hold.
#1DaysBEforeBE #1DayBEforeBe
Post merger, the Lakshmi Vilas Bank will cease to exist.
All its shares will be delisted from all the stock exchanges and shareholders will lose the value of the shares that they hold.
#1DaysBEforeBE #1DayBEforeBe
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