DBS Bank to shift to WOS model

India Business Journal - - NEWS ROUND-UP -

DBS Bank has re­ceived ap­proval from the RBI to op­er­ate a whol­ly­owned-sub­sidiary (WOS) in In­dia. DBS Bank cur­rently op­er­ates 12 branches in

In­dia. The RBI had an­nounced this scheme to en­cour­age for­eign banks to move to this model fol­low­ing the global fi­nan­cial cri­sis of 2008. The RBI had pointed out that the WOS model for for­eign banks in In­dia would in­volve lo­cal in­cor­po­ra­tion, a lo­cal board of directors and a ring-fenced cap­i­tal and as­sets pro­file that would not be af­fected by the im­pact of global events on its par­ent.

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