Business Standard

Lakshmi Vilas bank -Indiabulls merger came as surprise, says bank union

There are around 5,000 employees in Lakshmi Vilas Bank. The merged entity will have 14,302

banks
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Gireesh Babu Chennai
The Friday evening announcement of private sector lender Lakshmi Vilas Bank merging with non-banking finance company Indiabulls Housing Finance came as a surprise to the bank’s employees. The employees’ union is meeting the management on Monday to clarify doubts and will hold a meeting on Tuesday to come out with its stand on the merger, said top officials from the The Lakshmi Vilas Bank Employees' Union (LVBEU).
 
“The talks for capital infusion have been going on for some time... almost six months now. The announcement has come as a shocking news for us. We have not spoken to the

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