RBI initiates PCA against Lakshmi Vilas Bank

New Delhi: Private sector lender Lakshmi Vilas Bank (LVB) on Saturday has become the first private sector lender to be placed under the prompt corrective action (PCA) by the Reserve Bank of India (RBI).

The lender, which is being investigated by the police over the allegations of misappropriation of funds by one of its clients, has sought merger with another embattled lender Indiabulls Housing Finance.

Leave a Reply

Your email address will not be published. Required fields are marked *