Singapore's DBS bank which has branches in major cities of India will soft launch its digital/mobile online banking in the country this week, a top official of the bank said today.
• The phase by phase soft launch will be spread across DBS's locations in 12 Indian cities, including Mumbai, Delhi, Kolkata, Chennai, Bangalore and Pune, from end of next month.
• The offline launch will be done in a few months of time.
• DBS network expansion in India will also include 60-70 new branches on getting approval for setting up wholly-owned subsidiaries from the Reserve Bank of India.
• DBS's strategy is to spend the next couple of years focusing on digital space, especially pointing to the surge in e-commerce among other electronic systems in India.
• Indian executives presented industry and business prospects at the roundtable, organized by the Singapore-based strategy consultant services company Apex Avalon Consulting.
• The logistics business in India is prospering at 13-15 per cent a year as the country industrializes