DBS bank on Wednesday reported that the Indian central Bank has decided to raise key interest rates and the cash reserve ratio (CRR) requirements for banks by 25 basis points by the end of June, before July 27, the scheduled date for the meet.

As a result of this decision, the Reserve Bank of India (RBI) on Tuesday raised its key interest rates and the CRR by 25 basis points, in anticipation to curtail the rising inflation, without hampering the growth rates.

The legal war between pharmaceutical firm Wockhardt and Singapore based DBS Bank came to an end as both parties have reached an out-of-court settlement to solve the corporate debt restructuring (CDR) case.

A consent decree in the Bombay High Court has been filed in the court on Monday as Wockhardt gave its nod to settle MTM losses at Rs 91 crore. The repayment of an Rs 44 crore working capital loan taken in 2007 has been settled at a 19 per cent discount according to a person familiar with the development.

Tata AIG General Insurance has tied a knot with DBS Bank India (DBS) for dispersion of insurance products from the branches of the bank located throughout the country. Initially, the company will provide value-added insurance products including car insurance, home insurance, personal accident and health insurance in addition to travel insurance as well as insurance solutions for the SME section.

DBS Bank is being sued by more than 200 investors who lost a total of about $17 million on structured notes sold by DBS.

It was specified by Legal firm Premier Law, which served notice on DBS on Thursday, that the claim is based on the 'prospectus and pricing statement relating to the Notes 5'.

The investors want that the notes should be declared 'void' and their stakes be repaid.

Premier Law said: "The investors have taken this course of action after careful consideration, having sought advice from their legal advisors."

DBS Bank India, the domestic subsidiary of the Singapore-based DBS Bank has announced that it has clocked a phenomenal jump of 298% in its net profit after tax which stood at Rs 259 crore for the financial year ended March 31, 2009.

In the previous fiscal, bank's profit figure stood at Rs 65 crore.

In the latest fiscal, bank's revenues surged by 198% to Rs 616 crore from Rs 207 crore in last year. 

The bank has attributed the jump in revenues to the strong performances across all its units.