Shares of Lakshmi Vilas Bank Ltd (LAKSHVILAS-534690) hit their lower circuit of 5 percent for the second consecutive trading session. The Reserve Bank of India put the bank under Prompt Corrective Action framework. The bank clarified that PCA does not mean moratorium for the bank.
The Lakshmi Vilas Bank Ltd chart
Lakshmi Vilas Bank Ltd (LAKSHVILAS-534690), Fraud to the Tune of ₹790 cr
Gold Silver Reports (GSR) – Indian police have opened a probe into the directors of Lakshmi Vilas Bank after a customer accused them of misappropriating funds, the bank said late on Thursday.