DBS Bank is all set to launch its commercial banking operations in India in October. The bank’s group CEO Piyush Gupta confirmed this saying the bank will indeed launch the operations in October. The bank had received RBI’s approval to set up a wholly-owned subsidiary in India and the bank’s operations in the country will be conducted by this subsidiary. It will be the first foreign bank in India to have a wholly owned subsidiary. The bank is now expected to bring its product innovation and technology-led delivery model from across Asia to serve retail, small and medium enterprise (SME) and large corporates across a larger footprint in the country. Gupta said the bank is set to enhance its Digibank India, which is already offering a paperless, signature-less and fully digital banking experience in the country.
