Center Caps Withdrawal From Lakshmi Vilas Bank At Rs 25,000 Till Dec 16

The central government of Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank under moratorium and capped withdrawal at Rs 25,000 for one month, the Ministry of Finance said in a statement.

However, under certain conditions such as to meet the cost of medical treatment of the depositor, payment of higher education fees and marriages, depositors will be allowed to withdraw more than Rs 25,000 with permission from the Reserve Bank of India, Finance Ministry said.

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