Bengaluru, 09^th July 2025 – DBS Bank India Limited (DBIL) has waived prepayment and foreclosure charges for all Micro, Small, and Medium Enterprises (MSMEs) borrowers registered with UDYAM, making it easier for businesses to access credit and manage cash flow. Announced on MSME Day, this move reflects the bank’s continued commitment to supporting India’s MSMEs. The waiver is effective going forward and applies to both new and existing active borrowers.

This proactive step aims to enhance borrower flexibility and aligns with regulatory guidance focused on improving transparency in lending. It also addresses a persistent challenge faced by many MSMEs—where foreclosure charges have often deterred early repayment or refinancing, restricting their ability to optimise cash flow management.

Commenting on the development, Sudarshan Chari, Managing Director, and Head – SME Banking, DBS Bank India, said, “Access to flexible and affordable credit remains a critical need for micro, small and medium enterprises. By waiving prepayment and foreclosure charges, we are addressing a common challenge that often limits financial agility. This change enables businesses to repay loans early without penalty and reallocate funds towards immediate priorities or critical areas like inventory, technology, and expansion. It aligns with our broader efforts to support MSMEs with need-based solutions that strengthen their resilience and unlock long-term growth.”

DBS Bank India is committed to empowering enterprises across the value chain, supporting their growth at every stage. Its SME banking proposition offers a robust suite of solutions tailored to meet the diverse requirements of entrepreneurs, combining innovative offerings with deep regional expertise.

With its online account opening feature, entrepreneurs can set up current accounts quickly and seamlessly, eliminating the need for cumbersome paperwork. The bank also provides hassle-free business loans, enabling faster access to finance for growth and working capital needs. Through award-winning foreign exchange solutions and API-led banking integration, DBS Bank India helps businesses enhance operational efficiency, automate workflows, and respond swiftly to market opportunities.

DBS IDEAL, the bank’s mobile-enabled corporate banking platform, allows businesses to manage payments, monitor cash flows, and track transactions in real time. Additionally, the integration with Tally ERP enables connected accounting, allowing SMEs to automatically reconcile records and maintain better control over their financial reporting.

The post DBS Bank India waives prepayment and foreclosure charges for registered Micro, Small, and Medium Enterprises appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

DBS opens new flagship branch in Indiranagar, Bengaluru designed for High-Net-worth Individuals (HNIs) and Non-Resident Indians (NRIs) to service both onshore and offshore banking needs

DBS high net worth customers can now avail premium banking in all of DBS’s six key markets in Asia; being a DBS Treasures customer in one market gives them the same DBS Treasures privileges in all DBS markets 

Bengaluru, 3 December, 2024 – DBS Bank has announced a significantly enriched wealth proposition for its customers in India, building on its existing offering and introducing new, digitally enhanced features, tailored to the needs of NRIs and HNIs. The bank also inaugurated its third flagship branch in Indiranagar, Bengaluru, reinforcing its presence in the country’s technology hub, with a comprehensive suite of bespoke offerings and cross-border solutions for HNI clients and NRIs to access both domestic and global banking capabilities. The latest branch opening adds to the 26 DBS branches already serving Bengaluru and underlines the importance of the city to the bank’s operations in India.

In its largest increase in history, new financial wealth of US$588 billion was generated in India in 2023 and the country is expected to add wealth of ~US$730 billion annually until 2028[2]. This increase in affluence has led to the emergence of new customer needs, and coupled with the rising phenomenon of the globally mobile Indian, there is a requirement for customised solutions that factor in personal, business and lifestyle preferences.

DBS Bank has leveraged its presence across Asia, and its advanced digital capabilities to design a differentiated offering, that gives DBS Treasures customers, with a Total Relationship Value of more than INR 30 Lakh, total access to a full suite of customised wealth management solutions, experienced relationship managers, exclusive privileges, and the trusted advantage of the DBS network.  The full proposition, including preferential FX rates for international fund transfers, waived service fees, and zero ATM withdrawal fees, is available to customers across the six key DBS markets of Singapore, Hong Kong, Taiwan, Indonesia, India and China. In 2023, DBS Bank launched its super-premium, invite-only credit card in India, the DBS Vantage Card, offering exclusive benefits for high-net-worth customers and international travellers. These benefits include 8 Vantage Points for every ₹200 of international spends (1 VP = ₹1), zero forex mark-up on international transactions in Singapore, and a low forex mark-up of 1.75% for transactions elsewhere.[3]

The bank has pioneered an online account opening experience for its new NRI customers which lets them complete the account opening process (prior to document submission), within an hour, setting the standard for seamless onboarding. In line with the needs of a multi-location lifestyle, global Indians can open a DBS savings account with view-access and can track their application through the DBS Mobile Application Platform. View-access gives customers the functionalities of a savings account, except for fund withdrawal. Once all mandatory documents are submitted, customers can transact and withdraw funds with full account functionality. The new streamlined DBS process is a major step forward in accessibility and convenience for NRI banking, reducing the time and effort of paper documentation and follow-ups and ensuring a smooth and efficient customer experience end-to-end.

Richa Tripathi, Head – Wealth Management and Treasures, DBS Bank India, said, “Having been in India for over 30 years, DBS has developed a robust understanding of the preferences of high-net-worth Indians, both in the country and abroad. The pattern of wealth creation in India has become more decentralised, demanding stronger regional presence. DBS Bank India’s large branch network, coupled with advanced digital expertise, supports its ‘phygital’ strategy, which can comprehensively serve the rapidly growing new wealth in India. At the same time, Bengaluru’s entrepreneurial ecosystem and rise in investable wealth make it an ideal market for piloting our premium banking products and propositions. 

The new signature DBS branch in Bengaluru will offer more exclusive and personalised services for the complex and evolving needs of our affluent and NRI customers as well as business owners. Our online account opening solution for NRIs enables them to unlock more value through a seamless, location-agnostic experience. 

Asia, with India at the heart, is the rising epicentre of wealth and, as the largest bank in Southeast Asia, we look forward to bringing all the advantages of our Asian connectivity to our Indian and NRI clients.”

The bank in India has also tailored its wealth management approach for resident elderly customers with a proposition known as “DBS Golden Circle”, designed to not only address this demographic’s financial needs, but also to enhance their overall quality of life through a suite of specialised services, enabling them to ‘Live more, Bank Less’.

The post DBS Bank Leverages Asian Network, Digital Expertise to Enhance Wealth Offering for HNI and NRI customers  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

DBS opens new flagship branch in Indiranagar, Bengaluru designed for High-Net-worth Individuals (HNIs) and Non-Resident Indians (NRIs) to service both onshore and offshore banking needs 

DBS high net worth customers can now avail premium banking in all of DBS’s six key markets in Asia; being a DBS Treasures customer in one market gives them the same DBS Treasures privileges in all DBS markets

Bengaluru, 28 November, 2024 – DBS Bank has announced a significantly enriched wealth proposition for its customers in India, building on its existing offering and introducing new, digitally enhanced features, tailored to the needs of NRIs and HNIs. The bank also inaugurated its third flagship branch in Indiranagar, Bengaluru, reinforcing its presence in the country’s technology hub, with a comprehensive suite of bespoke offerings and cross-border solutions for HNI clients and NRIs to access both domestic and global banking capabilities. The latest branch opening adds to the 26 DBS branches already serving Bengaluru and underlines the importance of the city to the bank’s operations in India.

In its largest increase in history, new financial wealth of US$588 billion was generated in India in 2023 and the country is expected to add wealth of ~US$730 billion annually until 2028[2]. This increase in affluence has led to the emergence of new customer needs, and coupled with the rising phenomenon of the globally mobile Indian, there is a requirement for customised solutions that factor in personal, business and lifestyle preferences.

DBS Bank has leveraged its presence across Asia, and its advanced digital capabilities to design a differentiated offering, that gives DBS Treasures customers, with a Total Relationship Value of more than INR 30 Lakh, total access to a full suite of customised wealth management solutions, experienced relationship managers, exclusive privileges, and the trusted advantage of the DBS network.  The full proposition, including preferential FX rates for international fund transfers, waived service fees, and zero ATM withdrawal fees, is available to customers across the six key DBS markets of Singapore, Hong Kong, Taiwan, Indonesia, India and China. In 2023, DBS Bank launched its super-premium, invite-only credit card in India, the DBS Vantage Card, offering exclusive benefits for high-net-worth customers and international travellers. These benefits include 8 Vantage Points for every ₹200 of international spends (1 VP = ₹1), zero forex mark-up on international transactions in Singapore, and a low forex mark-up of 1.75% for transactions elsewhere.[3]

The bank has pioneered an online account opening experience for its new NRI customers which lets them complete the account opening process (prior to document submission), within an hour, setting the standard for seamless onboarding. In line with the needs of a multi-location lifestyle, global Indians can open a DBS savings account with view-access and can track their application through the DBS Mobile Application Platform. View-access gives customers the functionalities of a savings account, except for fund withdrawal. Once all mandatory documents are submitted, customers can transact and withdraw funds with full account functionality. The new streamlined DBS process is a major step forward in accessibility and convenience for NRI banking, reducing the time and effort of paper documentation and follow-ups and ensuring a smooth and efficient customer experience end-to-end.

Richa Tripathi, Head – Wealth Management and Treasures, DBS Bank India, said, “Having been in India for over 30 years, DBS has developed a robust understanding of the preferences of high-net-worth Indians, both in the country and abroad. The pattern of wealth creation in India has become more decentralised, demanding stronger regional presence. DBS Bank India’s large branch network, coupled with advanced digital expertise, supports its ‘phygital’ strategy, which can comprehensively serve the rapidly growing new wealth in India. At the same time, Bengaluru’s entrepreneurial ecosystem and rise in investable wealth make it an ideal market for piloting our premium banking products and propositions.

The new signature DBS branch in Bengaluru will offer more exclusive and personalised services for the complex and evolving needs of our affluent and NRI customers as well as business owners. Our online account opening solution for NRIs enables them to unlock more value through a seamless, location-agnostic experience.

Asia, with India at the heart, is the rising epicentre of wealth and, as the largest bank in Southeast Asia, we look forward to bringing all the advantages of our Asian connectivity to our Indian and NRI clients.”

 The bank in India has also tailored its wealth management approach for resident elderly customers with a proposition known as “DBS Golden Circle”, designed to not only address this demographic’s financial needs, but also to enhance their overall quality of life through a suite of specialised services, enabling them to ‘Live more, Bank Less’.

The post DBS Bank Leverages Asian Network, Digital Expertise to Enhance Wealth Offering for HNI and NRI customers  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, June 20, 2024: Tata Communications has secured a five-year USD250 million sustainability-linked loan (SLL) from DBS Bank, ANZ and Export Development Canada (EDC).

ANZ acted as the Lead Sustainability Coordinator for the loan, while DBS Bank and EDC were the Joint Sustainability Coordinators.

The transaction is the first SLL for Tata Communications under the company’s new SLL framework. Through the framework, a first of its kind in the sector in India, Tata Communications intends to link its funding with key objectives such as carbon emission reduction targets (non-financial covenants) that are core and material for the company’s long-term sustainability performance.

The interest rate margin of the loan will be adjusted up or down in accordance with the progress that Tata Communications will achieve on its carbon emission reduction targets. Such short-term targets, creating a link between the cost of banking facilities and progress achieved on key environmental milestones, are consistent with the company’s longer-term ambition to be Net Zero across its global operations by 2035.

Rajat Verma, Managing Director and Head, Institutional Banking Group, DBS Bank India said: “As a purpose-driven bank, DBS is proud to have been part of setting an industry benchmark as the Joint Sustainability Coordinator for the first Sustainability Linked Loan in this sector. It is a privilege to support Tata Communications’ sustainable financing framework, which will accelerate the company’s carbon mitigation journey towards its net-zero goals. Given our deep Asian network and trusted expertise in customising responsible banking solutions across sectors, DBS Bank looks forward to enabling companies to adopt practical decarbonisation strategies to collectively shape a more sustainable future.”

Stella Saris Chow, Head of Sustainable Finance, International, ANZ said: “ANZ is pleased to have played a lead role in Tata Communications’ maiden SLL. We see significant opportunities for other companies to align their financing with their environmental commitments and believe the facility will pave the way for other borrowers in India and across Asia to set robust sustainability performance targets. ANZ has a strong presence in Asia and we are well-positioned to support our clients to reduce emissions and transition to net zero.”

Kabir Ahmed Shakir, CFO, Tata Communications said: “The pioneering transaction is a landmark step towards supporting our belief in sustainability as a value creator. We intend to drive positive change not just within our own operations but also play a leading role in sustainable finance. We are confident that this innovative financing model will pave the way for a more resilient, more responsible future for businesses of all sizes and locations.”

Todd Winterhalt, Senior-Vice President of International Markets and Head of Communications and Public Affairs, EDC said: “As Canada’s export credit agency, EDC stands ready to support the transition to a more sustainable world and is delighted to partner with Tata Communications with their first sustainability-linked loan, amongst the first of its kind in the Indo-Pacific region. Our approach to deploy capital for sustainable activities is a key element of how we’re helping our customers achieve their climate objectives as they work towards achieving net zero emissions.”

The post ANZ, DBS BANK & EDC CLOSE MAIDEN SUSTAINABILITY LOAN FOR TATA COMMUNICATIONS appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

• The announcements were aimed at countering the fallout from the ongoing nationwide lockdown to contain the spread of the coronavirus pandemic, which has pushed the economy into a standstill, hurt businesses and landed thousands jobless.

• In his first address to the media after the government detailed the fiscal and monetary stimulus worth Rs 20.97 lakh crore, Mr Das said economic is expected to remain in the negative territory in the current financial year, due to the COVID-19 outbreak.

• While the repo rate was reduced to 4 per cent, the reverse repo rate – the interest rate at which the RBI borrows funds from commercial banks – was lowered to 3.35 per cent from 3.75 per cent.

• The committee decided to continue with its “accommodative” stance of policy, which means the central bank is ready to ease monetary policy further to support the financial system.

• Five members of the Monetary Policy Committee (MPC) voted in favour of rate reduction, RBI Governor Shaktikanta Das said through a video address.

• The RBI extended the term loan moratorium and also relaxed the repayment terms (interest payments) to prevent a cash-squeeze for borrowers.

• The RBI Governor said the combination of fiscal, monetary and administrative measures will create conditions that will enable a gradual economic revival going forward.

• Economists say the transmission of lower interest rates by banks to their customers will be watched closely.

• “The RBI flagged risks of a negative growth print this year, while holding back on a point target. They expect disinflationary forces to dominate, suggest they open for further reduction in cuts,” said DBS Bank economist Radhika Rao.

• In March, the RBI had slashed the repo rate by 75 bps to stimulate growth, and the next month, it unexpectedly lowered the key deposit rate – or reverse repo rate – to 3.75 per cent, in a bid to discourage commercial banks from parking idle funds with it and spur lending.

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