Indian Bank to be acquired by DBS

[AjithBtc]

Lakshmi Vilas Bank is one among the small scale bank in India. Now this is been into trouble, and DBS is planning to acquire. Lakshmi Vilas is a bank that function completely on traditional approach whereas DBS is completely a digital banking services provider.

Another important statement I read on the news about the same is the limitations imposed on cash withdrawal has once again made bank depositors fearful.

Code:

The moratorium on the banking system will be marginal, this has led to depositors' loss of confidence in the banking system.
Small and marginal depositors will no longer feel safe to park their money in private banks.

More Indian banks are into similar crisis. Recently this has been solved with the unification with other banks.

Source : timesnownews

[Darker45]

This is happening all the time. There have always been bank mergers. There are always banks, especially smaller ones, eaten up by larger banks. Nothing has changed. This is the environment not just among banks but also among other businesses and companies.

Depositors should not entrust large amounts to small and unstable banks. They should prefer large reputable ones when considering making large deposits and investments.

[Subbir]

covid 19 More Indian private banks in crisis due to problems. While the country was trying its best to recover from the Corona injury, the afflicted Lakshmi Bilas Bank was about to jump! The Reserve Bank of India finally found a way to revive this insect-eating private bank. This is the first bank crisis in India in Corona. DBS Group is the largest bank in Singapore. It is their Indian branch that has been offered to acquire Lakshmi Bilas Bank. After the proposed merger, the deposit money of Lakshmi Bilas Bank will be added to the account of DBS Bank. As a result, the interests of the common people of this country will not be harmed in any way.

[avikz]

I wonder how people are fooled into believing that this bank's collapse is linked to Covid! Let me tell you it has nothing to do with this pandemic situation. A bank can't fail for few months of bad performance. Let me tell you that there are more small scale banks are just waiting in the queue to declare themselves are bankrupt!

It is happening because of the tremendously bad leadership of the BJP government. India is a country where we have a Ministry for cows! It is a country where building a temple become a matter of national importance rather than building a factory. India is a country where government has no money to provide basic healthcare but has enough money to kick-off central vista project worth few thousand crores.

More and more small scale banks will fail in few coming months. Wait for it!

[usekevin]

Lakshmi Vilas Bank is one among the small scale bank in India. Now this is been into trouble, and DBS is planning to acquire. Lakshmi Vilas is a bank that function completely on traditional approach whereas DBS is completely a digital banking services provider.

Another important statement I read on the news about the same is the limitations imposed on cash withdrawal has once again made bank depositors fearful.

Code:

The moratorium on the banking system will be marginal, this has led to depositors' loss of confidence in the banking system.
Small and marginal depositors will no longer feel safe to park their money in private banks.

More Indian banks are into similar crisis. Recently this has been solved with the unification with other banks.

Source : timesnownews

Actually,India is a big market for the cryptocurrency.And developing country is the good market for the altcoin too.Because altcoin price will be low compare to bitcoin and new investors will choose a cheapest one to inverse their money.And many bank will include the cryptocurrency as like  SLR in near future.

[fiulpro]

Okay I will just say one thing:

If this is happening it might be positive too, I have been using DBS since 6-7 years now, it's a go to bank for me, the thing is , they are really comfortable with cryptocurrencies and their trading whereas the last time I tried doing it through SBI, my account was actually halted for a while.

If DBS is engaging , they might extend the benefits and crypto friendly ideas that way too. Plus this regulation regarding cash withdrawal is actually everywhere, even banks like DCB niyo, they gave started charging 5% extra on every swipe of the card, you will get your money back but after a while , this is a completely ridiculous term.

Plus for Indian born people living abroad , DBS is amazingly smooth and beneficial.

Lakshmi Vilas bank might actually get a better exposure when they collaborate.

[blockman]

Acquisition of banks by another bank is normal in the banking industry. I can see that there's going to be an upgrade to the service if this merge goes successfully.
Digital banking is on the approach and if DBS takes the management of Lakshmi Bank, it's only like they're upgrading and adding service feature from their existing traditional banking offers.

[webtricks]

It is happening because of the tremendously bad leadership of the BJP government. India is a country where we have a Ministry for cows! It is a country where building a temple become a matter of national importance rather than building a factory. India is a country where government has no money to provide basic healthcare but has enough money to kick-off central vista project worth few thousand crores.

More and more small scale banks will fail in few coming months. Wait for it!

How is it government's fault if bank followed bad strategy and failed? The main reason why Lakshmi Vilas Bank failed was because the bank shifted it's focus from  SMEs to Big Houses. The bank lent over 700 crores to Ranbaxy and Fortis and both parties defaulted loan repayment. LVB having less capital couldn't revive from the loss.

I agree that current Indian governement is doing a lot wrong but in LVB case, I would appreciate RBI's promptness, the way it took over the matter and safeguarded the interest of depositors by finding instant acquirer.

[n0ne]

News states about the discussion going on regarding the acquiring of LVB by DBS. No official confirmation has been made from the DBS banking network. If LVB is acquired by DBS then within India we'll see a more digitalized banking service, because LVB is one among the bank that is much focused on the rural areas.

[eaLiTy]

I wonder how people are fooled into believing that this bank's collapse is linked to Covid! Let me tell you it has nothing to do with this pandemic situation. A bank can't fail for few months of bad performance. Let me tell you that there are more small scale banks are just waiting in the queue to declare themselves are bankrupt!

That is the magic of politicians who only open their mouth to lie and then if they have a blind following who can shill their every decisions and have an IT cell that could spread fake news and propaganda and some could be fooled if they keep repeating the process. The bank in question here is Lakshmi Vilas Bank and they are struggling for a few years and if i remember correctly the DBS made the proposal last year and still they are in talks with the RBI.  

It is happening because of the tremendously bad leadership of the BJP government. India is a country where we have a Ministry for cows! It is a country where building a temple become a matter of national importance rather than building a factory. India is a country where government has no money to provide basic healthcare but has enough money to kick-off central vista project worth few thousand crores.

Not just cows, but a huge shelter and toilet for crows spending thousands of crores (Statue of Unity) while many are struggling to make ends meet and i think they are building such shelters around India .

The main reason why Lakshmi Vilas Bank failed was because the bank shifted it's focus from  SMEs to Big Houses. The bank lent over 700 crores to Ranbaxy and Fortis and both parties defaulted loan repayment. LVB having less capital couldn't revive from the loss.

Why was a major decisions to change the policies and this is not the only bank that is suffering from huge default loan repayments. Who knows how many politicians and bureaucrat earned commissions for sanctioning these loans.

[BTCappu]

I can't speak on behalf if banking industry in India but I can do that for Banking industry all around the world. Digital banks are making it harder for regular banks to continue operations with this many operational costs, from bank stores everywhere around the nation to paying all those salaries and also having a ton of vice presidents that take millions of dollars, these are all stuff banks have to consider, do they not make a profit?

Obviously most of them still make a profit but they are also spending a ton at the same time while digital do not. Nowadays I am using a digital bank for the past 2 years or so and I can say that I have never worked with a better bank, these banks will get bigger and bigger and acquire standard banks and make them digital as well.