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DBS Bank Infuses rs2,500 Crore In Indian Arm For LVB Deal

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DBS Bank Infuses rs2,500 Crore In Indian Arm For LVB Deal

Singapore’s DBS Bank has infused Rs2,500 crore capital in its Indian arm, DBS Bank India to support the merger with erstwhile Lakshmi Vilas Bank (LVB), said the bank in a press release on December 3.

DBS Bank India Limited (DBIL) is well-capitalised, and its capital adequacy ratio (CAR) remains above regulatory requirements after the amalgamation, the bank said.

“The amalgamation provides stability and better prospects to LVB’s depositors, customers and employees following a period of uncertainty,” DBS said.

Once the integration is complete, customers will be able to access a wider range of products and services, including access to the full suite of DBS digital banking services which have won multiple global accolades, the bank said.

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DBS-LVB merger was facilitated by the government and the Reserve Bank of India (RBI) through an amalgamation scheme after the Chennai-based private bank plunged into a financial crisis due to falling capital levels and high bad loans.

As per the details of the scheme, the entire paid up equity capital of the bank was written off along with Tier-II bonds. Since then, some LVB investors have moved courts against the specific provisions of the scheme.

Earlier, DBS had said all LVB customers will continue to get interest rates on savings bank accounts and fixed deposits as offered by the erstwhile LVB till further notice. Also, all LVB employees will continue in service and are employees of DBS Bank India on the same terms and conditions of service as under LVB.

Also Read : VACCINE TO BE FIRST GIVEN TO ABOUT 1 CRORE HEALTH WORKERS, SAYS GOVT

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns

The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.

Historical Context:

The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.

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The Ruling:

The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.

A Step Towards Normalization:

The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.

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The Role of the Tamil Nadu Government:

The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.

Implications for the Entertainment Industry:

The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.

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The Audience’s Perspective:

For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.

In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.

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