Lakshmi Vilas Bank Hits 5% Lower Circuit For Fourth Straight Day

Shares of the Chennai-based private sector lender - Lakshmi Vilas Bank - were locked in a five per cent lower circuit on Thursday. Lakshmi Vilas Bank on Wednesday informed exchanges that its non-executive independent director Supriya Prakash Sen resigned from the bank. Resignation of the independent director comes after Lakshmi Vilas Bank was placed under the Reserve Bank of India's prompt corrective action (PCA) framework.