Connect with us

India Hot Topics

RBI directs Lakshmi Vilas Bank to write off tier-2 bonds worth nearly ₹320 crore

Published

on

RBI directs Lakshmi Vilas Bank to write off tier-2 bonds worth nearly ₹320 crore

A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions. As per the effective date of merger notified by the Reserve Bank of India (RBI) on Wednesday, LVB will lose its identity on Friday as it amalgamates with DBS Bank India Ltd.

The RBI, vide their letter on Thursday, has advised the need to fully write down the Series VIII, Series IX and Series X Basel-III complaint tier-2 bonds before the amalgamation comes into effect from the appointed date (November 27), LVB said in one of its last communications to stock exchanges.

“If the relevant authorities decide to reconstitute the bank or amalgamate the bank with any other bank under the Section 45 of the Banking Regulation Act, such a bank shall be deemed as non-viable and both the pre-specified trigger and the trigger at the point of the point of non-viability for write-down of bonds shall be activated.

With non-performing assets (NPAs) soaring, the bank was put under the prompt corrective action framework of the Reserve Bank of India (RBI) in September 2019.
LVB is the second private sector bank after Yes Bank that has run into rough weather this year.
In March, capital-starved Yes Bank was placed under a moratorium. The government rescued Yes Bank by asking State Bank of India (SBI) to infuse Rs 7,250 crore and take 45 per cent stake in the lender.

Advertisement

Tap To Explore More : Economic Times

Also Read : RELIANCE JIO LAUNCHES 27-DAY LONG CLASH ROYALE TOURNAMENT

Haryana

Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Published

on

By

Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

Advertisement

The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/

Advertisement
Continue Reading
Anyskill-ads

Facebook

Trending