Which bank becomes second bank to get in-principle nod to operate as w – InterviewSolution

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1.	Which bank becomes second bank to get in-principle nod to operate as wholly-owned unit?
Answer» Singapore-based bank DBS got final approval to operate as a wholly-owned subsidiary (WOS) in India after a delay of two years. DBS is the second foreign lender after SBM (Mauritius) to get an in-principle approval to operate as WOS in India, it has a strong network in the form of Digibank in India with about 1.5 million customers. DBS operates through 12 branches in the country at present with over a million customers. The bank has already drawn up plans of expanding presence in the country in a staggered way which is included in the application submitted.

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