new Delhi. Lakshmi Vilas Bank has merged with DBS Bank India. All the account holders of Lakshmi Vilas have become DBS account holders. In such a situation, the question has arisen as to how much interest will be given on savings and FD to all the account holders of Lakshmi Vilas. On which the statement of DBS Bank India has come. The bank said that for the customers of Laxmi Vilas Bank, there has been no change in the savings and FD interest rates at present.
The merger came into effect on this day
According to the statement issued by the bank, the will of Lakshmi Vilas Bank in DBS Group Holdings Limited has come into effect on November 27. Under Section 45 of the Government and RBI, Section 45 of 1949, the two banks have merged together.
No change in interest rates
After the merger of LVB with DBS, the account holders and employees have received considerable relief. All restrictions of Lakshmi Vilas have been abolished on 27 November. At the same time, all branches, digital mediums and ATMs have been made normal. According to DBS Bank India, customers of Lakshmi Vilas Bank will continue to receive all banking services. They will get old interest on saving and FD till further notice.
Employees will also continue to work
On the other hand, the employees of Lakshmi Vilas have also been greatly relieved. Now he has become an employee of DBS Bank India. Her job terms will remain the same as was set during Lakshmi Vilas. According to the bank, it is trying to link Laxmi Vilas Bank’s system and network with DBS. Whose work will be completed soon.