<h1>Union Cabinet Approves Lakshmi Vilas Bank Merger with DBS Bank India to Secure Depositors and Enhance Financial Stability.</h1> The Union Cabinet, led by the Prime Minister, approved the amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank India Limited (DBIL) to safeguard depositors and ensure financial stability. Following a 30-day moratorium imposed by the RBI, LVB's Board was superseded, and an Administrator was appointed. The RBI, after public consultation, prepared an amalgamation scheme, which was sanctioned by the government. This merger eliminates withdrawal restrictions for LVB depositors. DBIL, a strong subsidiary of DBS, will integrate LVB's operations, expanding its branches to 600, thus maintaining a robust balance sheet and supporting a clean banking system.