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Singapore’s DBS Bank Ropes in Over 1 Million Indian Customers
May 25, 2017
While many foreign banks are limiting their operations in the country, DBS bank has expanded its Indian customers base by over 1 million through its digital banking venture. This is when it’s still waiting for the RBI to approve its own subsidiary in the country.
DBS CEO Surojot Some said that the bank has about 1.2 million customers that include e-wallets and savings accounts both. He also added that the deposits have also increased well.
Singapore’s largest bank DBS, which was launched in April 2016 in India allows its customers to start with sending money to their e-wallets and then opening a fully functional savings account later by using their Aadhaar information.
