- Another Indian bank has failed, the third collapse of a major deposit-taking institution in 15 months and the first since the onset of the coronavirus pandemic.
- Only its deposits will appear on the books of the India unit of DBS Group Holdings, Singapore’s biggest bank.
- DBS was the second foreign bank after SBM Group of Mauritius to turn its India operations into a wholly owned subsidiary.
DBS and Lakshmi Vilas Bank: This time, India is getting a bank rescue right
