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Punjab National Bank, on Wednesday, said it has not received any instructions from the Reserve Bank of India to get ready to take over Lakshmi Vilas Bank.
“It is clarified that the bank has not received any such instruction from RBI,” Punjab National Bank said in a regulatory filing.
Troubled Lakshmi Vilas Bank has been facing headwinds after shareholders rejected the appointment of seven directors and statutory auditors. The RBI then stepped in and approved that the day-to-day affairs of the lender would be run by a Committee of Directors (CoD) comprising three independent directors.
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