Lakshmi Vilas Bank's non-independent director resigns

02 Nov 2019

Business

Lakshmi Vilas Bank's non-independent director resigns

Mumbai, Nov 2 (IANS) Lakshmi Vilas Bank's (LVB) non-executive and non-independent director Anuradha Pradeep, has resigned from her position, after independent director Supriya Prakash Sen quit the board citing personal reasons.

A statement issued by Lakshmi Vilas Bank on Friday said: "Anuradha Pradeep (Non-Executive and Non-Independent Director) has resigned from the directorship of the bank on November 01, 2019."

The Reserve Bank of India had last month declined to approve the cash-strapped LVB's merger with India Bulls Housing Finance.

Earlier in September, the RBI had initiated prompt corrective action (PCA) against the private sector lender.

--IANS ravi/rtp