Besides creating thousands of jobs through this initial initiative, the JV will fulfil the dream of many young entrepreneurs to promote more such Startups in the country and create millions of jobs in the years to come.
DBS Bank India had a net profit of Rs 312 crore in the year-ago period but the bank said the results are not comparable because of its merger with private sector lender Lakshmi Vilas Bank in November 2020, which made FY22 the first full year of operation for the larger entity.
MAS aims to develop and pilot use cases in open, interoperable networks, trust anchors (entities that maintain ledgers in the blockchain ecosystem), asset tokenisation, and institutional-grade DeFi protocols.
"Ahead of the monetary policy review, 10 year yields are up sharply, building on a 30 basis point rise on a year to date basis, fuelled by strong gains in US yields, rally in oil prices, upcoming policy normalisation and anticipation of a higher borrowing programme."
Forbes rated banks on general satisfaction and attributes such as trust, fees, digital services and financial advice.
The funds will be used by DBS Bank India to manage the mismatch arising out of erstwhile Lakshmi Vilas Bank's assets and liabilities, according to a news report.
Copper has gained nearly 25 percent year-on-year but since March-end, when it slipped to a low of $4,500 a tonne the metal has gained 75 percent.
Following the developments at the bank’s AGM, when seven LVB directors were ousted, the new LVB management and Clix couldn’t complete the process in time, says KR Pradeep, former promoter of the bank
The Bombay High Court has refused to grant an interim relief to the Lakshmi Vilas Bank shareholders’ petitions challenging the scheme of amalgamation with DBS Bank India. Find out what's in store for the troubled bank?
The promoter group holds 6.80 per cent stake in Lakshmi Vilas Bank
Shareholders of Lakshmi Vilas Bank have suggested other options for the resolution of the stressed lender, including a bidding process from prospective suitors.
LVB administrator TN Manoharan said since the moratorium was clamped the bank saw only Rs 10 crore withdrawal through ATMs
Customers of the bank took their venting their frustrations on social media platforms
According to the draft scheme of amalgamation of Lakshmi Vilas Bank with DBS Bank India, the entire amount of the paid-up share capital will be written off. Some institutional investors Moneycontrol spoke to said they would consult legal experts before deciding on the way forward
The lender, whose network in India has now increased to 34 branches, reported 24 per cent growth in net revenues at Rs 1,444 crore during the last financial year and a fall in stressed assets.
In the case of the Centre, the fiscal gap will increase by 200 bps as earlier this month it hiked market borrowings by a whopping Rs 4.2 lakh crore or 54 percent over the budget estimate to Rs 12 lakh crore, citing the pandemic. Another 80 bps increase will be on account of the fiscal boost.
Our model offers the flexibility of digital banking, with a physical touch
By mapping its business strategies based on client journeys and client emotions, DBS Bank is building capabilities that will help it become more proactive with customers.
DBS Bank has plans to increase its customer touchpoints a combination of branches and kiosks across 25 cities in the next 6 to 12 months, from the existing 70, a senior official of the Singapore-based lender said on Thursday.
The RBI minutes from October policy review underscored the monetary policy committee members' unanimous decision to keep rates lower for as long as necessary, the report by DBS Bank said.
The Singapore-based lender's move highlights its efforts to tap growth outside its home market to offset weakness in the local economy.
The DBS-Social Alpha program will strengthen the ecosystem for enterprises focusing on the areas of Inclusion, Healthcare and Environment.
An NCLT bench of judges VP Singh and Ravikumar Duraisamy asked Ruchi Soya and DBS, which holds the first charge for the plant and the machinery of the crippled company, to file their detailed submissions by May 10.
DBS Bank India Limited has announced the first edition of its’ Hack2Hire programme in Bengaluru.
DBS Bank invested Rs 1,800 crore this year to fuel growth in the short run and Its capital base in India now stands at Rs 7,700 crore.