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DBS Bank Receives RBI Approval to Start Local Banking Subsidiary
September 07, 2017
Singapore’s biggest lender DBS Bank that has $355 billion in assets was recently given a green signal by the Reserve Bank of India to launch its local banking subsidiary in the country. This gives it the power to open expand its reach through more branches that will cater to the individuals and SMEs in the country.
Piyush Gupta, Chief Executive Officer, DBS Group said that the bank is waiting for the final nod that will allow it to increase its total number of branches in the country to 75 from the current 12.
