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Govt places moratorium till December 16, Imposes Rs 25,000 withdrawal limit from Lakshmi Vilas Bank .

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3 years ago

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The central government on Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank under a moratorium, capping withdrawals from its  customers’ accounts at ₹ 25,000 a month, the Ministry of Finance said in a statement. However, depositors will be allowed to withdraw more than ₹ 25,000 with permission from the Reserve Bank of India for purposes such as medical treatment, payment of higher education and marriage expenses, the ministry said.

The government took the step on the Reserve Bank of India’s advice in view of the bank’s deteriorating financial health.

In a separate statement, the RBI said that in the absence of a credible revival plan, there was no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949, in order to protect the interest of its depositors and to ensure financial and banking stability.

Lakshmi Vilas Bank shares ended 1 per cent lower at ₹ 15.50 apiece on the BSE earlier today.

Lakshmi Vilas Bank, which needed capital urgently due to its worsening asset quality, has been scrambling to find a buyer for the past one year. It was reportedly in talks with Clix Capital for capital infusion and a possible merger.

The troubles for the bank started in 2019 when the RBI rejected a proposal for its merger with shadow lender Indiabulls Housing Finance.

Last month, Laksmi Vilas Bank founder, KR Pradeep, told news agency Bloomberg that there was no liquidity problem in it. He said they had a liquidity coverage ratio of 260 per cent as against the required 80 per cent.

In September, the central bank had appointed a three-member committee, under banker Meeta Makhan, to run the cash-strapped private sector lender, after its shareholders voted out seven of its directors.

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Apple is giving a huge discount on its gadgets: Details inside

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2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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