New Delhi: The Reserve Bank of India (RBI) may take more time to examine the Lakshmi Vilas Bank (LVB) and India Bulls Housing Finance Ltd (IHFL) merger deal, an official source said on Wednesday.
“It (LVB-IHFL merger) may take time for examination,” a source said, adding the central bank may seek more information also on the proposed merger after going through the proposals from the entities.
An email sent to the RBI on the issue has not elicited any response so far.
The All India Bank Employees’ Association (AIBEA) had urged RBI Governor Shakthikanta Das not to allow the proposed merger of LVB with IHFL. The central bank should instead merge LVB with one of the public sector banks, AIBEA General Secretary C.H. Venkatachalam had said in a letter to the RBI Governor.
RBI earlier said it is yet to approve Lakshmi Vilas Bank-IHFL merger. (IANS)
