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

The central government on Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank under moratorium and capped withdrawal from the bank at ₹ 25,000 for one month, Ministry of Finance said in a statement. However, to meet the cost of medical treatment, payment of higher education and to cost marriage expenses, depositors will be allowed to withdraw more than ₹ 25,000 with permission from the Reserve Bank of India, Finance Ministry said.

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