Lakshmi Vilas Bank to be Merged with DBS Bank: Check Details

Reserve Bank of India has approved the merger of Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL). This move ensures the stability of LVB’s customers and financial ecosystem.

As part of this merger, LVB’s entire paid-up share capital, reserves, and surplus stand written off. Consequently, LVB’s entity ceases to exist, and its shares have been delisted from stock exchanges.

With this merger, all existing LVB branches now function as DBS Bank India Ltd branches. Customers can continue to use their current account details seamlessly.

Updated IFSC and MICR Codes:
Below is a sample table of updated codes for select branches. For full details, please visit your branch or the official DBS Bank website.

FAQs on the LVB-DBS Bank Merger

1. Will my Laxmi Vilas Bank account number change after the merger?
No, your existing account number remains the same. However, ensure you update the new IFSC and MICR codes for transactions.

2. How do I find my updated IFSC/MICR code?
Visit your local DBS branch or check the official DBS Bank website for the latest branch-wise IFSC and MICR codes.

3. Are my deposits safe after the merger?
Yes, your deposits are fully secured under the new DBS Bank framework.

4. Can I still use my old LVB cheque book?
You may need to replace your old cheque book with a new DBS Bank cheque book featuring updated codes.

5. Where can I raise concerns related to this merger?
Contact your local DBS Bank branch or the official DBS customer care for any queries or concerns.