Rejection of amalgamation with Lakshmi Vilas Bank is closure and comes as a relief to us, says Ajit Mittal of Indiabulls Housing Finance

Big setback for Indiabulls, the Reserve Bank of India (RBI) has rejected the proposed merger between Indiabulls Housing Finance and Lakshmi Vilas Bank. This was informed by Lakshmi Vilas Bank through a letter from the central bank. To discuss this CNBC-TV18 spoke to Ajit Kumar Mittal ED of Indiabulls Housing Finance.