- The moratorium is applied for a period of 1 month.
- RBI has put a restriction of Rs 25,000 on withdrawals from the bank, due to serious deterioration in lender’s financial position.
- Also, the RBI has superseded the BODs of LVB for 1 month. For this, RBI has appointed T N Manoharan as Administrator of LVB.
- This moratorium is imposed under section 45 of the Banking Regulation Act,1949.
- Also, RBI has released a draft describing a scheme of amalgamation for LVB with DBS Bank India Ltd.
- The central bank aims to complete this merger process before the moratorium period ends.
- Static Part:
- HQ of RBI: Mumbai
- Governor of RBI: Shaktikanta Das.
- Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao.
- HQ of LVB: Chennai, Tamil Nadu
Question:
a. Dhanlaxmi Bank
b. City Union Bank
c. Karur Vyasa Bank
d. Lakshmi Vilas Bank (LVB)
