Lakshmi Vilas Bk hits 20% lower circuit after govt puts it under moratorium

Shares of Lakshmi Vilas Bank (LVB) hit the 20 per cent lower circuit at Rs 12.40 on the BSE in intraday trade on Wednesday, after the government put the private sector lender under moratorium for at least a month.

That apart, the Reserve Bank of India (RBI) on Tuesday proposed to merge LVB with the India subsidiary of Singapore's DBS Bank.

Till 09:17 am, a combined 799,000 equity shares had changed hands on the counter and there were pending sell orders for 35 million shares on the NSE and BSE, exchange data shows.

In a notification on the finance ministry's