NDTV : Apr 08, 2019, 10:48 AM
The Reserve Bank of India (RBI) said it has not yet approved a merger proposal of private-sector lender Lakshmi Vilas Bank and Indiabulls Housing Finance. RBI on the board of Lakshmi Vilas Bank implies RBI's indirect approval of the deal, the central bank said the deal does not have its approval at this stage. RBI on the Board of LVB (Lakshmi Vilas Bank) does not imply any approval of the RBI of the merger proposal.