Centre Caps Withdrawal From Lakshmi Vilas Bank At Rs 25,000 Till December 16

The central government on Tuesday placed the Tamil Nadu-based private sector lender Lakshmi Vilas Bank under a moratorium, capping withdrawals from its customers' accounts at Rs 25,000 a month, the Ministry of Finance said in a statement. However, depositors will be allowed to withdraw more than Rs 25,000 with permission from the Reserve Bank of India for purposes such as medical treatment, payment of higher education and marriage ex...