Explanation:

• Managing Director (MD) and CEO (Chief Executive Officer) of Lakshmi Vilas Bank Parthasarathi Mukherjee has announced his resignation citing personal reasons. • Earlier, the Reserve Bank of India (RBI) is considering a proposal of merger of Indiabulls Housing Finance with Lakshmi Vilas Bank. • On 5 April 2019, the board of Lakshmi Vilas Bank approved a merger of the bank with the country's second largest housing finance company, Indiabulls Housing Finance Ltd. • Lakshmi Vilas Bank Limited was founded in 1926 by a group of seven businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. • Lakshmi Vilas Bank is headquartered at Chennai, Tamil Nadu.