Latest developments at Lakshmi Vilas Financial institution (LVB) have bolstered the deep-rooted belief deficit in India’s monetary system, with governance lapses and mismanagement coming to the fore as soon as once more. In a uncommon occasion within the nation’s company historical past, seven administrators, together with the promoter and the CEO of the 94-year-old private-sector lender, had been ousted at an annual common assembly, as shareholder activism went on full show. A spate of such
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