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DBS Bank India Limited (DBIL) traces its operational history in India back to 1994, when its parent, the Singapore-headquartered multinational DBS Bank Limited, established its first office in Mumbai, which was upgraded to a formal branch a year later. A pivotal shift occurred in March 2019 when the bank officially launched as DBS Bank India Limited, becoming a wholly-owned, locally incorporated subsidiary (WOS). This structure made it the first among large foreign banks in India to adopt the WOS model, signaling a deeper, long-term commitment to the market. This trajectory was rapidly accelerated in late 2020 with the amalgamation of the distressed Lakshmi Vilas Bank, a move that significantly bolstered its physical footprint, expanding its network to over 530 branches across 19 states.

DBS Bank India Limited operates as a wholly-owned subsidiary of its parent, DBS Group Holdings Ltd, which is a public limited company listed on the Singapore Exchange (SGX: D05). Its significance in the Indian financial system is two-fold: as a pioneer in digital banking and as a foreign institution with a substantial retail presence. The bank has been at the forefront of digital innovation, having launched digibank, which was India's first digital-only bank, and continues to follow a "phygital" model serving consumers, SMEs, and large corporations. Through its WOS structure and the amalgamation of a domestic commercial bank, DBIL has acquired a unique and prominent position, allowing it to accelerate its growth and embed itself more deeply within a key emerging market.