DBS launches India's first mobile-only bank
Bank aims to add five million retail customers over 3-5 years, and take in deposits of about S$10 billion
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
DBS Bank aims to add five million retail customers in India over the next three to five years, and take in deposits of about S$10 billion through India's first mobile-only bank that it launched on Tuesday, its chief executive Piyush Gupta said.
The bank, which targets to break even in this venture in about three years, hopes to steal a march in India's retail banking segment by tapping a unique biometric identification system in the country.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
