DBS Bank India plans to double its gold loan book, currently at Rs 6,300 crores, within the next five years. The bank has launched new features for its credit offerings, targeting a wider audience that is younger, more urban, and digitally savvy.DBS Bank India has seen growth in its gold loans business due to its expanded branch network and increased demand from the agrarian community, particularly in South India. The bank has also introduced a balance transfer feature to attract borrowers from other financial institutions.
DBS and commodities trader Maptrasco have completed the first live transaction of electronic Bills of Lading (eBL) for shipments between Singapore and India. The transaction was carried out under the TradeTrust framework, supported by the Infocomm Media Development Authority and Enterprise Singapore. The project aims to drive cross-border document and title exchanges and improve the efficiency of trade financing.