Lakshmi Vilas Bank is merging in which entity as was announced on 5 April 2019?
A. IDFC Bank
B. Indiabulls Housing Finance Ltd.
C. ICICI Bank
D. LIC Housing finance
Answer:B
Lakshmi Vilas Bank is merging in which entity as was announced on 5 April 2019?
A. IDFC Bank B. Indiabulls Housing Finance Ltd. C. ICICI Bank D. LIC Housing finance
Explanation: Lakshmi Vilas Bank Ltd (LVB) on 5 April 2019 announced that its board has approved a merger with mortgage financier Indiabulls Housing Finance Ltd in an all-stock deal. The merged entity, to be called Indiabulls Lakshmi Vilas Bank, will be among the top eight private banks in India by size and profitability. LVB operated 569 branches and 1,046 ATMs across 19 states and one Union territory while Indiabulls is involved in providing home loans, loan against property to retail customer including MSMEs and businesses, lease-rental discounting and construction finance.