Lakshmi Vilas signs MoU with LIC

To achieve its ambitious growth plan, Lakshmi Vilas Bank (LVB) plans to take both the organic and inorganic route to grow, its Managing Director and CEO, Mr K.S.R Anjaneyulu, said. Speaking to the media after signing a Memorandum of Understanding (MoU) with the Life Insurance Corporation of India for marketing the latter's product offerings through LVB's branch network, Mr Anjaneyulu said: “we will require capital to keep pace with our growth plans. We plan to enhance equity for the bank and its subsidiary.” He said he would be unable to divulge more details at this point as such issues would have to be cleared by the Board
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