Mumbai: Indiabulls Housing Finance Ltd plunged, as the rebuff to its plan to merge with Lakshmi Vilas Bank Ltd put a dent in hopes that shadow lenders could use such combinations to get better access to liquidity.
The Reserve Bank of India rejected the merger plan, Chennai-based Lakshmi Vilas said in an exchange filing late Wednesday, without disclosing the reason for the central bank’s decision.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!