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Success of FCNR shows global confidence in India: DBS CEO Tan Su Shan
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Moneycontrol•12-10-2026, 07:42
Success of FCNR shows global confidence in India: DBS CEO Tan Su Shan
- •DBS Group CEO Tan Su Shan stated that India is well-positioned to fulfill its manufacturing aspirations as the Make in India initiative gains strong traction.
- •She highlighted that India’s combination of the digital India Stack and the national power grid gives the country a distinct head start in manufacturing.
- •The early closure of the RBI's FCNR(B) scheme due to massive inflows reflects immense global market confidence in India's economy.
- •Shan emphasized that DBS views India as a core growth market driven by a rising middle class and strategic initiatives like MSME hubs and the IFSC.
- •She noted that AI adoption in banking will usher in agentic banking, transforming jobs and requiring workforce reskilling alongside strict governance frameworks.
Key Questions Answered
DBS Group CEO Tan Su Shan believes that India's combination of the national digital stack and the national power grid gives the country a major head start in manufacturing.
The FCNR(B) scheme was shut down early because a massive wall of money and strong global participation from NRIs quickly flooded in, demonstrating high global confidence in India.
The PURE framework stands for purposeful, unsurprising, respectful, and explainable, ensuring that AI data collection is properly governed, compliant, and treats customers correctly.
