The board of Lakshmi Vilas Bank (LVB) approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal. Lakshmi Vilas Bank based in

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Cochin
B	Thiruvananthapuram
C	Mumbai
D	Chennai

Explanation:

Detailed explanation-1: -Lakshmi Vilas Bank (LVB) was merged with DBS Bank in November 2020, following the amalgamation with DBIL due to which the IFSC & MICR codes of all branches of erstwhile LVB have changed.

Detailed explanation-2: -Lakshmi Vilas Bank’s entire equity capital will be written off and shares will be delisted after a proposed merger. Public shareholders of Lakshmi Vilas Bank Ltd. are set to take the biggest hit from the private lender’s merger with DBS Bank India Ltd.

Detailed explanation-3: -In an interview, Shome clarified that it would take another 18 months for the bank to shed the impact of the amalgamation on profitability. MUMBAI : Two years after the amalgamation of DBS with Lakshmi Vilas Bank (LVB), the Singapore bank is all set to grow its balance sheet from 2023.

Detailed explanation-4: -Minority shareholders of the erstwhile Lakshmi Vilas Bank (LVB) have got a breather with the Supreme Court of India accepting their plea to transfer all cases pertaining to the bank’s merger with DBS Bank of India-a subsidiary of DBS Bank, Singapore-to Madras High Court.

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