As DBS Bank India Limited, we can expand our footprint in India and contribute even more to the India growth story we passionately believe in. As we expand our banking network, our existing capabilities will be more seamlessly integrated into your life, reinforcing our commitment to you and your business.
The Indian branches of DBS Bank will, after transition, operate as a locally incorporated wholly owned subsidiary in the name of DBS Bank India Limited.
DBS Bank India Limited has received Banking License from the Reserve Bank of India and will be operational from 01st March 2019
The transition will happen on a single day, viz. the date of transition. After transition, all banking business will only be conducted by DBS Bank India Limited.
The transition will not impact your day-to-day transactions. They will continue to be executed in the same manner as before the transition. Kindly refer to the below table for specific details:
|Will my account number(s) change?||Your account number(s) will not undergo any change.|
|Does my Customer Identification Number (CIF) change after transition?||Your customer identification number (CIF) will remain the same.|
|Will my internet banking user ID and password change?||Your internet banking user ID and password will not change. You can continue to use the existing login credentials unless the system prompts you to change as per the standard security processes.|
|Will I lose existing beneficiary details and scheduled transactions in my account?||There will be no changes in your existing beneficiary details or the scheduled transactions. Your beneficiary details will continue to exist, and the transactions will flow as scheduled.|
|Can I use existing cheque leaves?||All your existing cheque leaves can be used until they are exhausted and will continue to be honoured.|
|Will the IFSC code of the existing branches change?||The IFSC code of the existing branches will remain the same as before the transition.|
|Will my existing fund transfer limits be valid?||There will be no change in your existing funds' transfer limits due to the transition.|
|Will my existing Debit Card and PIN for current accounts and savings accounts change?||Your existing debit cards for current accounts as well as saving accounts along with PIN numbers will remain the same.|
|I have set standing instructions/ scheduled bill payments / NACH in my internet banking account earlier. What will happen to those standing instructions?||There will be no changes in this. The standing instructions and scheduled bill payments set by you earlier will flow on the due dates.|
|Do I need to add third-party beneficiaries (Interbank/Intrabank/IMPS) and billers again?||The third-party beneficiaries, billers added and approved by you earlier will continue to be available.|
|I have a corporate banking account with the bank, do I have to re-register users and authorizers in Ideal and Deal online. Will there be any change in their access?||All the existing details will remain the same. There is no requirement to re-register users or authorizers and there will be no changes in their access.|
|Will my existing mutual fund mandates change?||There will be no changes in the existing mutual fund mandates due to the transition. Your mutual fund mandates and SIPs will flow as scheduled.|
|Will there be any change in my statement cycle?||The transition will have no impact on this. The frequency of your statements will remain as it is.|
|Will there be any change in the escalation matrix/contact points of the departments in the bank?||The customer contact points, including the existing escalation matrix, will remain the same.|
|Will the numbers of Business Care and Contact Centre change?||The Business Care and Contact Centre numbers will remain the same after the transition.|
|Will there be any change in the URL or website address?||The bank website address http://www.dbs.com/in will remain the same.|
For this financial year 2018-19, TDS certificates and Home Loan Interest certificates would be issued by DBS Bank Ltd (branch) up to the date of transition and by DBS Bank India Limited for the subsequent period. There will be no changes in the process of issuance of TDS & Home Loan Interest certificate.
The bank’s GSTIN will change as a result of the transition. You can refer to the section on related links for GSTIN details for each state.
You can continue to reach out to your existing Relationship Manager. In case there is any change, we will keep you informed.
You will not need to re-submit any documents for KYC verification. In case there are any documents to be provided to the bank, your Relationship Manager will reach out to you.
The ARN number (AMFI Registration number) pertaining to mutual funds will undergo a change. For more details, please visit https://www.dbs.com/digibank/in/wos-arn-number-change-faqs.html
You will not be required to re-register your mobile number after the transition.
You can continue to use the same app without re-installing and your login credentials will remain the same. There will be no new app for digibank/mobile banking.
All the existing offers will be transferred to DBS Bank India Limited and will continue till expiry. There will not be any impact on the offers due to the transition.