Southeast Asia's largest bank by assets, DBS Group, is expanding its operations in India.
It has received the green light from Indian regulators to set up eight new branches in Bangalore, Chennai, Kolkata, Moradabad, Nasik, Pune, Salem and Surat. These will add to DBS Bank's current two branches in New Delhi and Mumbai.
All eight branches are expected to be operational within a year.
DBS Bank in India offers a range of wholesale banking products and services to its corporate and SME customers.
These include corporate lending, treasury services, transaction services and M&A advisory.
The bank also provides wealth management services to the growing middle class in India.
The latest licences come just a week after DBS secured the green light to open a representative office in Hanoi, the capital of Vietnam.
Singapore-based DBS has been expanding aggressively outside of its key markets of Singapore and Hong Kong. - CNA/ms
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