DBS Bank's Indian arm to start in October, more branches to come up

Singapore-based DBS Bank, which will convert its Indian operations into a wholly-owned subsidiary (WOS) in October, plans to scale up its network to 50 branches from the current 12 in one year.

Piyush Gupta, chief executive officer, DBS Bank said the process of morphing current branch network the country into WOS is underway. The regulatory approval (Final) from Reserve Bank of India is expected in next few weeks. It received in-principle approval from RBI in September 2017. Bank has already established a corporate body for WOS.

Bank would increase its presence from 12 cities to 30 cities through new branches.