DBS

The Reserve Bank is likely to hike benchmark lending rates by 25 basis points in its bi-monthly policy next month to bring down inflation within the central bank's comfort zone, DBS Group Research said on Monday. To contain the rising prices, the RBI has hiked interest rates by 250 basis points since May last year. The latest rate hike of 25 basis points in February took the benchmark policy rate to 6.50 per cent. In an online session on 'Growth resilience and sticky inflation', DBS Group Research Executive Director & Senior Economist Radhika Rao said the RBI may hike interest rates by 25 basis points in April and maintain a hawkish bias as retail inflation is still high. Retail inflation in January spiked to 6.52 per cent against 5.72 per cent in December last year. Rao, however, said inflation caused by supply-side constraints cannot be dealt with by monetary policy alone and is not enough to tackle inflation. "Weather conditions are important for farm output. The local weather .

Gupta received a cash bonus of about S$5.8 million ($4.3 million) and a salary remuneration of S$1.5 million that contributed to an overall compensation of S$15.4 million for 2022

Surojit Shome, MD and CEO of DBS Bank India, said having crossed the Rs one trillion business (deposit and loans) mark in September, the bank is looking to grow 3x in five years

Currencies across the region jumped Thursday, following their developing-nation peers in the Americas and Europe, after the US data published Wednesday led to a slump in the dollar

The issues stemmed from the bank's access control servers, resulting in customers' inability to log in to the services

Friday's result rounded out a robust quarter for Singapore banks

In a bid to proactively adapt the new risk-free benchmarks on existing loans and derivatives, DBS Bank India has announced the first active transitioning of an existing loan and derivative to new reference rates.This is a key milestone for DBS and marks the bank's first active transition process in India - an integral part of the benchmark transition plan of the bank to ensure seamless adoption of new Alternative Reference Rates (ARR) as Interbank Offered Rates (IBORs) are phased out.DBS has successfully transitioned some of the existing loan and derivative contracts with two companies - Power Finance Corporation Ltd & REC Limited - to the new reference rates. Existing contracts were benchmarked to Swap Offer Rate (SOR) [a legacy SGD floating benchmarked IBOR], and post this transition, all loans and derivatives have now moved to Singapore Overnight Rate Average (SORA), the new risk-free rate.Speaking on the development, Ashhish Vaidya, Managing Director & Head of Markets,

Asset quality under pressure on LVB acquisition

DBS CEO Piyush Gupta had said that he is interested in the U.S. bank's assets that are for sale in India, as well as in China, Taiwan and Indonesia.

DBS's Lakshmi Vilas acquisition was the first time the Reserve Bank of India turned to a foreign lender to bail out a local bank

A plea in the Delhi High Court has challenged the scheme of amalgamation of Lakshmi Vilas Bank with Development Bank of Singapore (DBS), contending that its shareholders have been "left in the lurch"

The scheme of amalgamation came into effect on November 27, 2020.

India called upon called upon a foreign institution to take over Lakshmi Vilas Bank's assets and liabilities. That should stoke interest of other global banks

The crisis at Lakshmi Vilas Bank and how does it impact you? Explained

In this podcast, Business Standard's T E Narasimhan explains how does the crisis at Lakshmi Vilas Bank impact customers, will LVB's shareholders get anything, are jobs in LVB at stake and more

LVB's financials deteriorated to 5.56 per cent capital adequacy and 21.25 per cent gross NPA ratio in the September 2019 quarter

According to Singapore's DBS Banking Group, conducive global drivers provided a favourable external environment for the Indian economy in 2019

The central bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operations for Rs 10,000 crore each on December 23, 2019.

The financial services major said India's economy sharply decelerated this year as the financial sector reported stress

Moody's decision to change the outlook to negative reflects increasing risks that economic growth will remain lower

The govet had last month announced a ten percentage point cut in corporate taxes, to get Indian levies at par with others, to spur investments.