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DBS Bets on “Poisoned Chalice” of India Banking for Profits

  • Lender to boost loans to consumers, small businesses in India
  • Singapore bank aims to triple India assets in next five years
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DBS Group Holdings Ltd. aims to bolster loans to Indian consumers and small businesses as part of a plan to reduce its reliance on Singapore.

Southeast Asia’s biggest bank will push credit through its new wholly owned unit in India, Chief Executive Officer Piyush Gupta said in an interview in Mumbai, where the bank is beefing up both its brick-and-mortar branches and its digital presence to tap the world’s second-most populated nation. Retail accounts for about 1/10th of DBS loans in the nation.