India Dhanlaxmi Bank no plans to shut branches

MUMBAI: Small sized private lender Dhanlaxmi Bank on Monday said it has no plans to shut down branches or shrink operations, but has initiated steps, including salary cuts, to control costs.

The lender also plans to surrender excess real estate in metros and major cities, it said in a statement.

Last week, the Economic Times newspaper reported Dhanlaxmi Bank planned to shut 30 branches in major cities as part of a revival plan.