The All India Bank Employees' Association (AIBEA) has urged RBI Governor Shakthikanta Das to not allow the proposed merger of Lakshmi Vilas Bank (LVB) with Indiabulls Housing Finance Ltd (IHFL) .
The central bank should instead merge LVB with one of the public sector banks, AIBEA General Secretary CH Venkatachalam said in a letter to the RBI Governor.
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“Taking into account the fragile health of LVB, it is necessary for RBI to take a holistic view and merge it with one of the public sector banks in public interest, instead of allowing LVB to merge with IBH,” Venkatachalam said.