After recurring losses for three years, RBI imposed moratorium for a period of 30 days on LVB. Withdrawals are restricted to Rs 25,000. Emergency, unavoidable expenses are granted a limit of Rs 5,00,000. Amalgamation process is expected to complete before the moratorium ends, wherein DBS bank will infuse Rs 2,500 crore to scratch out the deleterious bank from closure. The Central Bank assured it’s depositors that their money is fully protected.
