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LVB-DBS merger, 6K cr infusion into NIIF, 2.4K cr FDI in ATC Telecom okayed: Key Cabinet decisions

The Union Cabinet on Wednesday approved the merger of crisis-ridden Lakshmi Vilas Bank (LVB) with the DBS Bank India Ltd. (DBIL), with the government asserting that there will be no further restrictions on the depositors regarding withdrawals other than the current moratorium. Equity infusion of Rs 6,000 crore in NIIF Debt Platform over next two years and a proposal involving Rs 2,480 crore FDI by ATC Asia Pacific in ATC Telecom Infrastructure were also okayed. Union Minister Prakash Javadekar briefed media on the decisions. Watch highlights. (Text: PTI)

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