Lakshmi Vilas Bank Administrator TN Manoharan said on Wednesday that the bank’s depositors’ money is completely secure. He expressed confidence that the bank would merge with DBS Bank India within the regulatory deadline.

The Reserve Bank (RBI) on Tuesday appointed former Managing Director of Canara Bank TN Manoharan as Laxmi Vilas Bank Administrator. The RBI appointed an administrator after removing the board of directors of the distressed private sector bank.

The bank has prohibited the transaction and withdrawal limit of Rs 25,000 per account. Laxmi Vilas Bank is confident that DBS Bank will merge with India before December 16, 2020, Manoharan said.

The first priority of the operators is to ensure that the depositor’s money is fully secured and that there is enough money in the bank to repay the depositors’ money. 17,000 crore if the deposit is Rs. The RBI will release the final draft of the merger on November 20.

Restriction on these two banks, do you have your account in them?