Got message from Lakshmi vilas bank

My account is zero I opened through online mode and complete kyc. It’s a zero balance account. Hope it merger with DBS and I can bypass that minimum 5000 balance limit

DBS is presently the most financially sound bank in India. Definitely a good deal, given the circumstances.

If any bank is placed under moratorium, will it affect locker services ?

Bank Mergers happens easily on paper and asset calculations.

Actual merger might take years.

For starter – Bank open new accounts only in the merged entity and gradually shifts customer from the merged bank to merger bank. (By issuing new passbooks, cheque extra)

Big or regular customer/business professionals gradually switches themselves to the merger(new parent bank) for better banking facilities and better acceptance.

Any merger will create issues for the customers.

Stay away from both banks until they settle down with complete integration of backend systems.

Hint: Trust issues between employees of losing their jobs. They concentrate more on securing the job (existing or new) rather than servicing the customer.