LVB, facing mounting bad loans and governance issues and a failure to secure capital, is set to be folded into DBS's Indian subsidiary under a plan proposed by India's central bank, which took control of the 94-year old Chennai-based lender on Tuesday, citing a "serious deterioration" in its finances.source https://economictimes.indiatimes.com/industry/banking/finance/banking/with-lakshmi-vilas-deal-dbs-faces-potential-culture-clash/articleshow/79296396.cms
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