Lakshmi Vilas Bank, DBS Bank India amalgamation gets govt's nod

Briefing the media about the cabinet's decision on the matter, Union Minister Prakash Javadekar said the cabinet has approved the amalgamation of LVB with DBS Bank.

Javadekar said liability will be fixed for wrongdoings in LVB on the board members that have been removed.

"This is one of the efforts of cleaning up the banking sector," Javadekar said.