Leading private sector bank Lakshmi Vilas Bank is ready for sale. Clicks Group has offered to buy a 90 per cent stake in the bank. The bank will be in talks with Clicks on the matter in the coming days.
Many people take the money and hide it in the banks as they are in danger of evading the borrower. However, looking at the recent developments .. I can say that the confidence of the people in the bank is weakening. The RBI has recently imposed strict regulations on two cooperative banks. Customers also struggled with this.
With this, the central government also brought in a new law bringing co-operative banks under the purview of the RBI. But now another bank is on the verge of bankruptcy. The same private sector Lakshmi Vilas Bank. The bank is facing a dire situation. According to national media, the bank is ready for sale.
Clicks Group is reportedly set to buy Lakshmi Vilas Bank, which is in crisis. Clicks Group has already made a non-binding offer to Lakshmi Vilas Bank. Lakshmi Vilas Bank informed this. Talks will be held between the two sides on this issue.
Banking experts say Lakshmi Vilas Bank has a chance of recovery soon in the wake of the Clicks Group acquisition offer. Lakshmi Vilas Bank currently needs a capital of Rs 2,500 crore. Of this, Rs 500-Rs 700 crore will be used for expansion of operations.
Lakshmi Vilas Bank is currently offering only Gold Loans as it goes into Tier 1 Capital Negative. Also offering only government guaranteed MSME loans. Lakshmi Vilas Bank is reassuring its customers in such adverse conditions. It tells you that there is no harm to depositors, that you do not feel insecure, and that your money is safe. Recently, bank management has also changed. It is also possible that the bank may merge with another bank.
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