Lakshmi Vilas Bank To Merge With Singapore-Based DBS Bank

Tamil Nadu based Lakshmi Vilas Bank (LVB), including all its branches have merged into DBS Bank from November 27. The RBI lifted the moratorium from the bank and suggested to merge with a subsidiary of Singapore-based DBS Bank.  "All the existing customers of the bank will be able to operate their accounts as the customers of DBS Bank," said the LVS officials. "The treasury operations will be solved in a week," they added.