 Lakshmi Vilas Bank is a traditional bank. It started its operation in 1926, 94 years ago. Like Lakshmi Vilas Bank, there are several old generation private banks like Karudvaisya Bank, South Indian Bank, Tamil Nadu Mercantile Bank, Sithya Union Bank. These banks have been operating in many parts of the country, particularly in South India and Tamil Nadu. For the benefit of the common public, the functioning of these banks are akin to the functioning of the public sector banks. They have been rendering a Roman service even though they were in private sector because they were traditional private banks and have been scrupulously following the reserve bank norms. All of us had done about 3-4 years back. Lakshmi Vilas Bank started changing its policy towards corporate lending. And also the big scam has broken in 2017 wherein one of the executives, along with some officials, have indulged in fraudulent activity in giving a loan of 750 crores recklessly without following any of the norms. It ended up in a big fraud and these officials are under the scrutiny of the investigating agencies and are behind the bars and also the fraudsters. This is one instance. That apart, the total lending towards corporate as per the present reserve bank policy with bigger 15-20% collateral security also endanges the viability of the loan and the recovery part. And the present recovery loss of the land, namely debt recovery tribunal act, surface act, insolvency bankruptcy code, these are too inadequate to recover corporate loans. The surface act is practically impossible to implement because there is no tangible asset provided by these corporates to cover their loan. And the IBC, as admitted by the finance minister herself, it is enabling only 44% recovery and that 44% recovery is also immediately not coming to the bank. These are the lack only and the inadequacies of the lending and the recovery policies. Coming back to Lakshmi Vilas Bank, Lakshmi Vilas Bank turned towards corporate lending and this turned out to be a big handicap for this bank but 70-80% of the corporate loans have become NPA non-performing assets. About 3500-4000 crores out of 16000 crores have become NPA, touching the gross NPA 27% in the recent past. And with that result, the capital adequacy ratio as per the Basel III loans which is to be maintained at 9% has been reduced to 1% in the beginning and now in the recent September 2020 it has gone negative. This is another issue wherein because of which the bank could not serve according to the Reserve Bank's monitoring report. The problem should have been addressed by the Reserve Bank much before, well in advance. Two of the multinational corporations which came into for purchasing or for taking over this LVD bank has been in the past turned down because of their credentials in the past. It has been the right decision. Now the moratorium has been declared with effect from November 17, 2020. That means for another one month, this moratorium will continue. Practically there cannot be any lending or deposit taking by this institution for the coming month and the maximum allowable withdrawal for account holders is restricted to 25000 on normal circumstances and this restricted to 5 lakhs under special circumstances like meeting the education, higher education or medical expenses etc. This has put a lot of problems. This has created a lot of problems on the hardships and mental agony to the lakhs and lakhs of depositors who have deposited that hard earned money to the extent of 20,000 crores in this bank. Lakshmila Reserve Bank is primarily spread in South India and mostly spread in Tamil Nadu and the people of Tamil Nadu are really in pain because their hard earned savings is at stake. The Reserve Bank has not monitored it properly even though there was a nominee and also an independent director approved by the Reserve Bank of India. Reserve Bank has started monitoring the banks not in a methodical manner because several self-certification methods have been given and the independent individual on the spot monitoring by the Reserve Bank has been taken to the background. This is another issue with Reserve Bank of India. And as far as the intervention of the single government is concerned, the single government has only now approved the Lakshmila Reserve Bank through RBI to place the centre moratorium. Even much before that, the single government should have intervened. Now the people are in panic. Now the Reserve Bank and the government have come out with a proposal of merging the Lakshmila Reserve Bank with the DBS Bank. A Singapore based multinational bank, DBS India is a subsidiary of DBS Bank, which is again a subsidiary of DBS Holdings. This bank, the functioning of the new generation private banks and the multinational banks we have been seeing, they concentrated only in urban centres and the metro centres. They neglect the rural and the semi-urban population. They serve here only to earn huge profit and they are not here to serve the people. Therefore there is a every danger, every possibility of closure of a large number of rural and semi-urban provinces. And also the job security of the 4000 employees will be at stake because we have been seeing that a lot of pressure is mounted on the employees of the merged banks in the taking over entity. And because of that, either they are compelled to go on VRS or a CRS is also promoted like that. And this will not save the interest of the job protection of the 4000 officers and the employees. There is also a possibility that many of the private banks now which are in trouble, they are also likely to be taken over by this kind of multinational banks and the new generation private banks. And as far as the private banks are concerned, the maximum amount of deposit that is guaranteed for a single depositor is only 5 lakhs as per the deposit insurance credit guarantee corporation. And therefore, we strongly from Bank Compliance Federation of India, we strongly suggest advocate, we urge upon the government and the Reserve Bank of India to merge the Lakshmiyula's bank with one of the public sector banks, number one. Number two, stringent action should be taken to recover the NPS of the corporates which is the only solution to save this bank. Number three, serious action should be taken against the fraudsters both inside and outside, inside Lakshmiyula's bank and outside those who have perpetrated the fraud. And fourthly, if there is any loss on account of merger to the public sector bank, it should be replenished, it should be reimbursed by the government of India. And finally, we suggest the government should give up its atom to privatize any of the public sector banks and convert all the private banks into public sector. This is the solution and that only can have an enduring impact and will safeguard the interest of the public deposit as well as the protect the jobs of the employees and the offices. Thank you.