Lakshmi Vilas Bank placed under Moratorium

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Lakshmi Vilas Bank goes under moratorium.

Breaking News | Govt brings #LakshmiVilasBank under moratorium with effect from 6 pm today until December 16. Withdrawals capped at Rs 25,000 per borrower during moratorium.

The Lakshmi Vilas Bank: RBI announces Draft Scheme of Amalgamation with DBSBankIndia.

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Another India shining example of our robust banking 🏦 system and pro-active management 😅

+🔥 and ✝️ Karma given for dp name he’s much better than kohli goli 💊😛

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I think once it gets amalgamated with DBS everyone will get their money back. Not sure of shares though…Yes bank had 3 year lockin..

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dhinchakrohit wrote:

I think once it gets amalgamated with DBS everyone will get their money back. Not sure of shares though…Yes bank had 3 year lockin..

Can u share the full story pls

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UPDATE:

SHAREHOLDERS BEWARE….VALUE IS ZERO NOW.

DEPOSITORS DONT WORRYYOU WILL GET ALL MONEY BACK ONCE MORATORIUM ENDS.

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ha ha . .. where gone the fans of private banks now?

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Shareholders lost all money

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demerius2020 wrote:

ha ha . .. where gone the fans of private banks now?

Do u mean to say all pvt banks are same?

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dhinchakrohit wrote:

UPDATE:

SHAREHOLDERS BEWARE….VALUE IS ZERO NOW.

DEPOSITORS DONT WORRYYOU WILL GET ALL MONEY BACK ONCE MORATORIUM ENDS.

Easier said than done bro. Fd etc, this bank had good fd rates, have also kinda become useless now. Plus noone knows when the moratorium will end. Google pmc bank.
Chutiya bna diya hai desh ko in sarkaro ne. Sabhi ko banking license de dena bad mein moratorium lga dena.

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billubakra wrote:

Easier said than done bro. Fd etc, this bank had good fd rates, have also kinda become useless now. Plus noone knows when the moratorium will end. Google pmc bank.
Chutiya bna diya hai desh ko in sarkaro ne. Sabhi ko banking license de dena bad mein moratorium lga dena.

Please read Gazette copy released By Govt today. Most of the things are clarified.

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Anyway to find list of banks under Reserve Bank’s Prompt Corrective Action (PCA) ?

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billubakra wrote:

Easier said than done bro. Fd etc, this bank had good fd rates, have also kinda become useless now. Plus noone knows when the moratorium will end. Google pmc bank.
Chutiya bna diya hai desh ko in sarkaro ne. Sabhi ko banking license de dena bad mein moratorium lga dena.

Loan govt ko puch ke diye the kya inn banks ne??

Driving license de diya aur accident ho gaya to kiski galti hoti hai?

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dhinchakrohit wrote:

Loan govt ko puch ke diye the kya inn banks ne??

Driving license de diya aur accident ho gaya to kiski galti hoti hai?

Road maintenance aur traffic regulation+monitoring se 99% accidents avert hosakte hai.

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deathheater wrote:

Why is dbs merging with such a poor bank?

They are getting a fully operational bank for 2500 crores probably (equity is being written off as per the notification). They might see value in it to expand their banking business in India without having to start from zero.

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F7-Dimer-Primer wrote:

Road maintenance aur traffic regulation+monitoring se 99% accidents avert hosakte hai.

Traffic rules tod denge aur kahenge accident ho gaya?

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billubakra wrote:

Easier said than done bro. Fd etc, this bank had good fd rates, have also kinda become useless now. Plus noone knows when the moratorium will end. Google pmc bank.
Chutiya bna diya hai desh ko in sarkaro ne. Sabhi ko banking license de dena bad mein moratorium lga dena.

It’s a scheduled commercial bank bhau. PMC bank is a cooperative bank. Difference is there. People ll get their money back in case of LVB. 🙂🙂🙂

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dhinchakrohit wrote:

Please read Gazette copy released By Govt today. Most of the things are clarified.

Please stop believing whatever the goberment is telling you.
They also said pmc depositors will get their money back in within 45 days. Many many people have committed suicides in the last more than 2 years.

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bikidas2060 wrote:

It’s a scheduled commercial bank bhau. PMC bank is a cooperative bank. Difference is there. People ll get their money back in case of LVB. 🙂🙂🙂

They will. But not in the timeframe mentioned by the goberment.
And why does rbi allow these cooperative banks to run if they are not gonna save them?

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billubakra wrote:

They will. But not in the timeframe mentioned by the goberment.
And why does rbi allow these cooperative banks to run if they are not gonna save them?

Financial inclusion bro.

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dhinchakrohit wrote:

Loan govt ko puch ke diye the kya inn banks ne??

Driving license de diya aur accident ho gaya to kiski galti hoti hai?

From a retail customer’s pov, what you are saying doesn’t make sense.

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F7-Dimer-Primer wrote:

Road maintenance aur traffic regulation+monitoring se 99% accidents avert hosakte hai.

Would like to add one thing, the goberment charges road tax/dto charges whenever we purchase any vehicle. Atleast in my city there are no roads, only dust and potholes and it is an urban area.

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billubakra wrote:

Bro that article is about lvb. Where is the bank’s list on the PCA? Sorry if I missed something.

Little below in the second info pic on what is PCA and the banks currently under PCA.

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bikidas2060 wrote:

Financial inclusion bro.

Current banks are more than enough. Private banks are in every rural city. They should not give licenses to everyone or should stand with the taxpayers.

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MTRIP wrote:

Little below in the second info pic on what is PCA and the banks currently under PCA.

Thanks bro. Why isn’t RBI keeping an updated list on their website so that customers are aware?

Missing