Customers suffer after Centre puts Lakshmi Vilas Bank under moratorium for 30 days

The Centre has placed Lakshmi Vilas Bank Ltd under a moratorium for 30 days. The cash withdrawal limit has been capped at Rs 25,000 till Dec 16. RBI imposed moratorium on Lakshmi Vilas Bank Ltd from Nov 17 and also proposed its merger with DBS Bank India. A customer said, “It was really shocking to know that RBI has imposed moratorium on Lakshmi Vilas Bank Ltd. Rs 25,000 withdrawal has been permitted which is not enough during this time. Therefore, we request officials to allow bank customers for more withdrawal limit.”