
RBI-Lakshmi Vilas Bank under prompt corrective action after directors probed for an alleged scam
India’s central bank announced a regulatory action on Lakshmi Vilas Bank, the lender stated in a statement on Saturday, at the same time that police have started probing the bank’s directors for alleged misappropriation of funds. Lakshmi Vilas Bank is the latest Indian lender in India to face conflicts in an already troubled banking sector…