Singapore-based DBS's Indian unit will pump in Rs 25 billion ($336 million) in fresh capital, the central bank said in a statement Tuesday. "Not one rupee of depositors is at risk," said T N Manoharan ... ( read original story ...)
India set to hand troubled Lakshmi Vilas Bank to Singapore’s DBS
India has placed private-sector lender Lakshmi Vilas Bank Ltd under a moratorium and has restricted withdrawals of more than 25,000 rupees ($335.80), according to a finance ministry statement on ... ( read original story ...)
Fintech startup Affirm’s IPO filing shows revenue surge amid lending boom
It filed for an IPO of up to $100 million, but that is a placeholder amount and is expected to change. Its major investors include Peter Thiel’s venture firm Founders Fund, Singapore’s ... ( read original story ...)
Ant Alumni Who Cashed Out Before IPO Flop Have Big Ambitions
He recalls heading for Hangzhou and Shanghai, expecting IPO celebrations in both places ... Bill Deng joined Ant in 2010 after working for Visa Inc. in Shanghai, Beijing, and Singapore. He soon became ... ( read original story ...)
Shades of green: Banks take bigger steps toward greener finance amid climate change push
As countries around the world look for ways to bounce back post-COVID-19, there’s been greater emphasis on building back better and greener. ( read original story ...)
UOB sues retiree to recover more than $100k lost in alleged phone scam
But Mr Lim Thiam Ho claims that he was duped into logging into his bank account by scammers who applied for the cash advance.. Read more at straitstimes.com. ( read original story ...)
Singapore’s DBS to rescue Lakshmi Vilas Bank, first such move by any foreign lender
By Bijou George and Suvashree Ghosh DBS Group Holdings Ltd. will take over India’s Lakshmi Vilas Bank Ltd. in a deal orchestrated by the nation’s central bank, the first time authorities have turned ... ( read original story ...)
DBS faces potential culture clash as it scoops up India’s distressed Lakshmi Vilas Bank
MUMBAI/BENGALURU/SINGAPORE: DBS Group's move to take over troubled Lakshmi Vilas Bank will give Southeast Asia's largest lender the boost in India it has long desired, but aligning the two banks' ... ( read original story ...)
DBS faces potential culture clash as it scoops up distressed Indian lender
DBS Group's DBSM.SI move to take over troubled Lakshmi Vilas Bank LVLS.NS will give Southeast Asia's largest lender the boost in India it has long desired, but aligning the two banks' business ... ( read original story ...)
Merger with LVB to strengthen DBS Bank’s India business, says Moody’s
The RBI on 17 November announced a draft scheme for the merger of Lakshmi Vilas Bank (LVB) with the wholly-owned subsidiary of DBS Bank in India soon after the government imposed a one-month moratoriu ... ( read original story ...)
The three green loans mark CapitaLand’s first foray into sustainable finance in India.
CapitaLand has secured its first three green loans in India, totalling Rs 1700 crore, from DBS Bank India Limited (DBS) and the Hongkong and Shanghai Banking Corporation Limited India (HSBC India) for ... ( read original story ...)
Hong Kong, Singapore, Dubai or Nur-Sultan: Where is the Future of Asian Arbitration?
With Beijing spooking some investors in Hong Kong, other Asian cities are angling for prominence as arbitration centers. ( read original story ...)
Singapore pilots insurance coverage for foreign inbound travellers
Foreign visitors will be allowed to buy inbound travel insurance coverage for COVID-related costs incurred in Singapore, the Changi Airport Group (CAG) and the Singapore Tourism Board (STB) announced. ( read original story ...)
Singapore, Philippine central banks partner for data connectivity
They hope to boost cross-border data transfer and risk management. The Monetary Authority of Singapore (MAS) and the Bangko Sentral ng Pilipinas (BSP) have released a joint statement of intent to ... ( read original story ...)
Singapore based Fintech 360F and Zurich Middle East Introduce Solution for Digitizing Entire Financial Process
Singapore based Fintech firm 360F and Zurich Middle East introduce solution for digitizing entire financial process. ( read original story ...)
How RBI moved quickly to save Lakshmi Vilas Bank, and why it chose Singapore’s DBS for merger
The top three foreign banks in India — Citibank, Standard Chartered and HSBC — have not ... DBS was set up by the government of Singapore, and it is controlled through Temasek Holdings — Singapore’s ... ( read original story ...)