LVB to become DBS Bank India, cash withdrawal allowed from Friday

Following the approval, DBS Group Holdings — Singapore's biggest bank — will take over Lakshmi Vilas Bank in a deal pushed by the RBI. This also marks the first instance when India has turned to a foreign entity to bail out a struggling domestic bank.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/cabinet-approves-dbs-takeover-of-lakshmi-vilas-bank/articleshow/79421550.cms