DBS Bank India appoints Rajat Verma as Managing Director

Why DBS Bank in News?

DBS Bank India has appointed Rajat Verma as managing director and head of institutional banking in India. The current head of institutional banking Niraj Mittal has recently moved to a new role as country head of DBS Bank in Australia. The bank said Mittal will focus on growing the DBS franchise there, including improving linkages with South-East Asia and South Asia.

Verma was, till recently, with HSBC India where he was managing director and country head of commercial banking in India. The statement said Verma brings a wealth of knowledge and deep industry expertise to DBS. He holds an MBA from the Indian Institute of Management, Lucknow, and a Bachelor of Electrical Engineering from the Delhi College of Engineering.

About the DBS Bank

DBS Bank Limited, often known as DBS, is a Singaporean multinational banking and financial services corporation headquartered at the Marina Bay Financial Centre in the Marina Bay district of Singapore. The bank was previously known as The Development Bank of Singapore Limited, which “DBS” was derived from, before the present abbreviated name was adopted on 21 July 2003 to reflect its role as a global bank. It is one of the “Big Three” banks in Singapore, along with OCBC Bank and the United Overseas Bank (UOB).

Important takeaways for all competitive exams:

• DBS Bank CEO: Piyush Gupta (9 Nov 2009–);
• DBS Bank Headquarters: Singapore;
• DBS Bank Founder: Government of Singapore;
• DBS Bank Founded: 16 July 1968, Singapore.

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