The RBI should take a prompt and correct action of merging the 93-year-old Lakshmi Vilas Bank (LVB) with a nationalised bank, a top leader of one of the largest bank unions said.
“There are a number of corporate vultures that are circling the small-old generation private banks for a take over. These regional banks have their own tradition and culture and taking them beyond certain borders and expanding their size will result in failure,” All India Bank Employees’ Association (AIBEA) General Secretary C.H. Venkatachalam told IANS.