Lakshmi Vilas Bank share tanks 20 percent on merger

After the government on tuesday placed Lakshmi Vilas Bank(LVB) under a one month moratorium, the shares of LVB on wednesday cracked to 20 percent on BSE by hitting it’s lower circuit limit of ₹12.4 whereas on NSE, the shares dived 19.94 percent to hit the lower circuit of ₹12.45. RBI has also announced the amalgamation of Lakshmi Vilas Bank with DBS Bank.