General Announcement::Proposed scheme for DBS to amalgamate Lakshmi Vilas Bank into its India business

Issuer & Securities

Issuer/ Manager
DBS GROUP HOLDINGS LTD
Securities
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
17-Nov-2020 22:36:23
Status
New
Announcement Sub Title
Proposed scheme for DBS to amalgamate Lakshmi Vilas Bank into its India business
Announcement Reference
SG201117OTHR4I5Y
Submitted By (Co./ Ind. Name)
TEOH CHIA-YIN
Designation
GROUP SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS wishes to announce that the Reserve Bank of India (RBI) has announced a draft scheme to amalgamate Lakshmi Vilas Bank with DBS Bank India Ltd. The proposed scheme of amalgamation is under the special powers of the Government of India and RBI under Section 45 of the Banking Regulation Act, 1949. Please see attached for more information.

DBS will await final decision on the proposed scheme from RBI and the Government of India, and will announce further details at a later stage.

Attachments

Proposed scheme for DBS to amalgamate Lakshmi Vilas Bank into its India business.pdf
Total size =33K