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On 5 July 2024, DBS Bank (Hong Kong) Limited was fined HK$10 million (S$1.73 million) by Hong Kong Monetary Authority (HKMA) for lapses in adhering to anti-money laundering and counter-terrorist financing regulations. DBS Bank (Hong Kong) failed to continuously monitor business relationships and conduct enhanced due diligence in high risk ...
In 2005, DBS Bank acquired a 37.5% stake in Cholamandalam Investment and Finance Company, with the Murugappa Group lowering its stake to 37.5%. The company was subsequently renamed as Cholamandalam DBS Finance. [7] In 2010, DBS Bank sold its entire stake back to Murugappa Group and exited the joint venture. [8]
Numerous Singaporean companies, including Singapore Exchange (SGX) and DBS Bank, reported various levels of service difficulties throughout 19 July. [68] [69] In India, the Reserve Bank of India said that only 10 banks and NBFCs were affected by the outage; [152] [153] few banks use CrowdStrike tools and many banks' critical systems do not run ...
Piyush Gupta BBM (Hindi: पीयूष गुप्ता; born 24 January 1960) is an Indian-born Singaporean banker [1] and the chief executive officer (CEO) of DBS Group, the largest bank in Southeast Asia by total assets.
Lakshmi Vilas Bank was an Indian private sector bank established in 1926 in Karur, Tamil Nadu. As of November 2020 [update] , the bank had 566 branches in 19 states and 1 union territory. [ 4 ] On 27 November 2020, the bank was merged into the Indian subsidiary of DBS Bank .
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
The Indian Banks' Association (IBA), formed on (26 September 1946), is an unregistered, voluntary association of like-minded banks and individuals in India [1] —a representative body of Indian banks and financial institutions based in Mumbai. [2]
With a view to provide focused attention and enable development of techno-banking in the country, the institute has promoted a new Section 8 company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial ...