The Reserve Bank of India has rejected the proposed merger between Lakshmi Vilas Bank and Indiabulls Housing Finance , the lender said on Wednesday. Nothing changes for Indiabulls. "Everyone was expecting it won’t go through," said Pritesh Bumb, Research Analyst at Prabhudas Lilladher. "The criteria of fit and proper was questionable for both parties. There would be a concrete reasons for RBI to reject it, which is not there is the public domain as yet," added Bumb.

Source: Economic Times October 09, 2019 14:37 UTC