DBS Bank to shift to WOS model
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.