RBI appointed administrator for Lakshmi Vilas Bank, T.N Manoharan stated the loss making bank has ample liquidity to pay back depositors. He says the bank is in a state of having funds of over Rs 20,000 crore in deposits and Rs 17,000 crore in advances. Post merger of the two banks, all employees will retain their jobs at same remuneration and no cash deficiency would occur at any branches.
LVB has enough funds to repay depositors – Administrator
