DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.
Murugrappa Group on Tuesday said it has bought 37.48 per cent stake in Singapore based DBS Bank making it to hold controlling stake in their joint venture company Cholamandalam DBS Finance Ltd.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
Many other Indians are heading the businesses at companies abroad.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
Bond issuances dipped 31.4% during January-June
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
The referendum will have long-term implications for Indian companies, which earn a substantial portion of revenue from the region.
The RBI cut rates for third time in 2015 due to favourable economic conditions.
Gamification has the potential to trigger immediate positive responses to learning that an organisation wishes to impart.
The Reserve Bank of India cut its repo rate by 25 basis points to 6.50 per cent.