The bank accounts for small and medium enterprises (SMEs) and transaction. DBS has already launched digital services for retail and has about 100,000 customers, according to Times of India.
But DBS has had some credit exposure in the infrastructure and support sector, according to DBS Group chief executive officer Piyush Gupta. Compared to China, India has certain natural advantages, many of them a legacy from the British rule, especially the rule of law and English language. India had set up IITs and IIMs in the early years which has led to the formation and creation of Indias tech industry, the bank’s CEO continues.
The challenges are in infrastructure and in attracting foreign capital. India also needs to be consistent in its legal regime and continue to work on the ease of doing business.
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