RBI Approves Appointment Of Rajat Verma As DBS Bank India CEO
Verma is currently the head of Institutional Banking Group, according to a statement by the bank.
The Reserve Bank of India on Monday approved the proposal for the appointment of Rajat Verma as the new chief executive officer of DBS Bank India. He will succeed Suroji Shome, the current CEO of the bank.
Verma is currently the head of the Institutional Banking Group, according to a statement by the bank.
A seasoned banker, Verma has a 27-year track record across consumer and corporate banking, including transactional banking, financial institutions, sustainable finance, micro and SME banking, as well as branch banking, it said.
Since joining DBS as Head of IBG in June 2023, he has significantly grown the business across all client segments, it said.
Shome has been at the helm of DBS Bank India since April 2015.
Earlier this month, Bajaj Finance Ltd. ended its co-branded card partnership with DBS Bank India.
"Bajaj Finance Limited and DBS Bank India Limited have agreed to discontinue the issuance of new co-branded credit cards," the Indian subsidiary of the Singapore-based bank said in a statement, responding to NDTV Profit's queries.
The two lenders have so far issued 5 lakh credit cards as part of their partnership. The disclosure comes on the back of RBL Bank's announcement on Friday that it has decided to mutually call off its co-branded partnership with Bajaj Finserv Ltd.
"For the existing customers of the Bajaj Finserv DBS Bank SuperCard, there is no disruption of services. They continue to access all existing benefits, privileges, and services that they enjoy with the current card," DBS Bank India said in its statement.
DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994.
(With Inputs From PTI.)
