The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation.
Days after a month long moratorium was imposed on the Tamil Nadu based Lakshmi Vilas Bank, the Union Cabinet on Wednesday approved the scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited.
Moody's Investors Service on Wednesday said Singapore's DBS Bank will strengthen its India business following merger with troubled Lakshmi Vilas Bank.
Singapore-based DBS Bank said on Saturday that reports claiming that it will acquire controlling stakes in Yes Bank were false. "The rumours of DBS acquiring a stake in Yes Bank are unfounded and baseless," a DBS spokesperson told IANS.
“We revise down our real GDP forecast for FY20 to 6.8 per cent YoY versus 7 per cent earlier,” the bank said.
New Delhi: India's current account deficit (CAD) is likely to widen in the June quarter to 1.8-2.0% of GDP while for the current financial year, it is likely to remain under control, says a DBS
Mumbai: Singaporean brokerage DBS today said going forward the market sentiment will be driven by the Modi government's reform agenda, choice of the finance minister and allowing Governor Raghuram Rajan to continue at the Mint
Mumbai: The credit deposit ratio is likely to remain at an elevated level for the next 6-8 months on account of higher credit growth and slower deposit creation, among other things, a report said today.
Mumbai: Singaporean bank DBS today said the latest RBI move to ease liquidity should not be construed as a drawback of its tightening stance, but as a measure to keep the government's borrowing cost under
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