DBS India

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

Lender's amalgamation with Lakshmi Vilas Bank expanded its reach in South India

India's strong growth offers room for the Reserve Bank of India to raise rates by another 60 basis points as the central bank seeks to stamp out high inflation, said DBS Group Research

DBS Group is bullish about business opportunities in India and has employed a phygital strategy, offering best-in-class digital capabilities to customers supported by a strong physical network

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,

Binding bids for Citigroup's retail assets in Indonesia, the Philippines, Taiwan and Thailand are due on Friday, while offers for the India unit are due next week

Lender aims to reduce net NPA below 2%; Grow CASA to 40% level

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

The amalgamation of Lakshmi Vilas Bank into DBS Bank India came into effect from November 27

The merger is set to be effective from November 27.

The bank employees' body said the merger of LVB with the Indian subsidiary of a Singapore-based bank is goes against the Centre's 'Aatmanirbhar Bharat' policy.

On Tuesday, the RBI announced its decision to amalgamate LVB with DBS Bank India

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

The government on Saturday said a phased exit would begin on June 1 from the over-two-months-long nationwide lockdown

Puri retires in October this year

DBS is a big project and infrastructure finance house, rated among the top three or four in Asia