RBI Disapproves Lakshmi Vilas Bank's Proposed Merger With Indiabulls Housing Finance, Cites Bad Loans as Reason
The Reserve Bank of India disapproved Lakshmi Vilas Bank Ltd's proposal of a merger with Indiabulls Housing Finance Ltd (IHFL), citing bad loans, negative return on assets (RoA) for two consecutive years, insufficient capital adequacy ratio and high leverage.