No call on LVB-I’bulls merger: Guv

The Times of India (New Delhi edition) - - Times Global -

Mum­bai: Plac­ing Lakhsmi Vi­las Bank (LVB) un­der the prompt cor­rec­tive ac­tion frame­work can­not be con­strued as RBI hav­ing made up its mind on the lender’s merger pro­posal with In­di­a­b­ulls Hous­ing, gov­er­nor Shak­tikanta Das said on Fri­day.

He also ad­vised all the stake­hold­ers not to draw any in­fer­ences now based on the puni­tive ac­tion on the South­based mid-sized lender. In­di­a­b­ulls pro­mot­ers’ roots in the realty space has made the RBI de­ci­sion on its merger pro­posal with LVB a keenly watched event, as the cen­tral bank has a pro­nounced dis­taste for the sec­tor fraught with volatil­i­ties.

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