.......At the peak of the crisis, the Reserve Bank of India (RBI) was apparently in favour of merging Dhanlaxmi Bank with another financially strong bank. "Former RBI governor D Subbarao was in favour of the merger," says a person familiar with the developments at the bank. "But the state government of Kerala opposed the merger on the ground that Dhanlaxmi was the only home-grown Hindu bank from Kerala." Dhanlaxmi, being one of those old-generation private banks, was given a chance to reinvent itself under a new management and Jayakumar was given charge in May 2012. While other lenders in a similar position, like Federal Bank and Ratnakar Bank, are on a strong footing now after a leadership change, the Thrissur-based lender has remained trapped in a web of increasing cost and high slippages (in non-performing assets), from which it is still yet to recover.........
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