Lakshmi Vilas Bank has received a non-binding offer from Aion-backed non-banking finance firm Clix Group for a merger. The Clix Group is backed by the private equity major Aion Capital.
The old-generation Chennai-based private sector bank, which has been on the lookout for an investor and capital for long, was jolted on September 25 when its shareholders voted out seven directors of its board, including CEO S Sundar and promoters K R Pradeep and N Saiprasad.
Following this, the Reserve Bank of India (RBI) appointed a three-member team to run the bank under Meeta Makhan as chairperson and Shakti Sinha and Satish Kumar Kalra as members.
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.
