Bad loans prompt India sanction bank seeking merger

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Lakshmi Villas Bank has bad loans,insufficient capital to absorb risks. FMTNews

Lakshmi Vilas Bank would be brought under prompt corrective action to improve performance.

The Reserve Bank of India cited its high level of bad loans and insufficient capital to absorb risks, it said. Chief executive officer Parthasarathi Mukherjee suddenly left in August for personal reasons, about seven months after his term was extended for two years. An Indian court and the police are poised to begin

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines