What is the new name of Laxmi Vilas bank?
DBS Bank
Lakshmi Vilas Bank (LVB) was merged with DBS Bank in November 2020, following the amalgamation with DBIL due to which the IFSC & MICR codes of all branches of erstwhile LVB have changed.
Is LVB cheque valid?
As per the directive from Reserve Bank of India, LVB IFSC and MICR codes remain unchanged till further notice and customers can continue using their existing LVB bank accounts, debit cards and cheque books seamlessly for transactions pan India as earlier.
What is folio charges in LVB?
Vyapaar Account
| Sr.No | Features | LVB VYAPAAR |
|---|---|---|
| 19 | Financial transactions | Rs 15/- plus taxes |
| Non-financial transactions | Rs 5/- plus taxes | |
| 20 | Statement of Account | Free, monthly |
| 21 | Folio Charges | For MAB of up to Rs 5,000/- flat fee of Rs. 100/- plus taxes per month |
What is the full form of DCB bank?
-The Company has changed its name from Development Credit Bank Ltd. to DCB Bank Ltd.
In which year did Laxmi Vilas bank merged with DCB bank?
On 27 November 2020, the bank was merged into the Indian subsidiary of DBS Bank.
What will happen to Lakshmi Vilas Bank shareholders?
All of the bank’s equity, including the shareholding of Indiabulls Housing Finance (4.99%), Srei Infrastructure Finance (3.34%), Capri Global (3.82%) and promoter ownership of 6.8%, as well as stakes held by retail investors, are set to be extinguished as the draft scheme of amalgamation says that the entire paid-up …
What is the minimum balance in LVB?
Types of Lakshmi Vilas Bank Savings Account
| Particulars | Details |
|---|---|
| Minimum Balance Requirements | Rs. 100 |
| ATM Debit Card | Visa international debit card free of cost for the first year |
| ATM Withdrawal Limit | Rs. 5000 per day |
| Internet Banking | Available for account holders age 18 years and above |