Full formBanking & Finance
LXBstands forLaxmi Vilas Bank
Full Form of LXB
What is LXB?
Laxmi Vilas Bank (LXB) was a private sector bank in India, established in 1926 with its headquarters in Chennai, Tamil Nadu. It offered a range of banking services including savings accounts, current accounts, fixed deposits, loans, and digital banking solutions primarily in the southern states of India, particularly Tamil Nadu, Karnataka, and Andhra Pradesh. The bank played a notable role in rural financial inclusion by extending credit to small businesses and farmers. In November 2020, LXB was amalgamated with DBS Bank India as part of a regulatory move to strengthen the banking sector. Its net worth had been eroded, prompting the merger. The acronym LXB was commonly used in stock market references and by customers for identification. For aspirants preparing for Indian banking exams, knowing the history and mergers of banks like LXB is essential for sections on financial awareness and current affairs.
LXB का फुल फॉर्म
लक्ष्मी विलास बैंक
Example
I had a fixed deposit with LXB, but after the merger, my account is now with DBS Bank.
LXB — frequently asked questions
What is the full form of LXB?
LXB stands for Laxmi Vilas Bank, an Indian private sector bank that operated from 1926 until its merger with DBS Bank India in 2020.
What happened to Laxmi Vilas Bank (LXB)?
Laxmi Vilas Bank was amalgamated with DBS Bank India in November 2020 due to financial distress, and all branches now function under DBS Bank.
Is LXB still a valid bank name?
No, LXB is no longer an active bank. All accounts and services were transferred to DBS Bank India after the merger.