Singapore DBS Bank is the first international bank to seek approval to set up a subsidiary in India, which will stand parri passu with local lenders.  The central bank, in November 2013 had said that it would treat foreign banks operating in India on the same level with local lenders.

DBS is expected to get the statutory approvals by the end of  first quarter of next year. Recent changes in priority sector guidelines and tax laws have initiated the bank to seek the shift and scale up its presence.

Always seek Knowledge:

About DBS

1. The bank was set up by the Government of Singapore in June 1968.
2. It took over the industrial financing activities from the Economic Development Board.
3. DBS Bank is the largest bank in South East Asiaby assets and among the larger banks in Asia

Nuts and Bolts of Singapore:

• Capital: Singapore
• Currency: Singapore Dollar
• Language:
  •  Malay
  •  Mandarin
  •  Tamil
  • English
• President : Tony Tan
• Prime Minister: Lee Hsien Loong
• Religion: Buddhism

Question: 

1. What was the previous name of DBS Bank? Answer:The Development Bank of Singapore Limited