Lakshmi Vilas Bank Crisis
- The recent collapse of Chennai-based Lakshmi Vilas Bank (LVB) marks the failure of the fifth financial institution in recent time.India’s bad bank problem has aggravated over the past few years and the economic slowdown triggered by the pandemic could make matters worse, with defaults on the rise.
- Earlier, Infrastructure Leasing and Financial Services (IL&FS), Diwan Housing Finance Corporation (DHFL), Punjab and Maharashtra Cooperative Bank (PMC) and Yes Bank are four other banks and financial institutions that have collapsed since 2018.
- Crisis-hit Lakshmi Vilas Bank will merge into the Indian arm of Singapore-based DBS Bank on 25th November, 2020, before it ....
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