MUMBAI: Singaporean lender DBS, which operates a wholly-owned subsidiary in the country, on Monday said it is pumping COVID relief aid worth over Rs 10 crore into India including three cryogenic oxygen cylinder tanks.
Foreign banks operate in India either as a wholly-owned subsidiary or through branch model.
DBS has tied up with Singapore High Commission in India and High Commission of India based in Singapore to import three cryogenic oxygen tanks having capacity of 20,000 litres each to support the ongoing relief efforts, an official statement said.
The tanks will be donated via the Singapore Red Cross to India and will be deployed for use through the Ministry of Health, India, the statement said.
It has partnered with 'Doctors For You' to support the setting-up of a 300-bed oxygen equipped facility in Mumbai, along with the installation of mini oxygen plants, procurement of oxygen concentrators, and provision of medical personnel, the bank said.
Similarly, a tie-up with 'United Way Mumbai' is aimed at facilitating ICU unit beds and equipment, oxygen concentrator devices and other medical supplies to enhance existing capacity at public healthcare facilities in Mumbai and Pune, it said.
Additionally, its employees across Asia have started a fundraising initiative to donate funds towards healthcare support and vaccination for the underprivileged through GiveIndia, the statement said, adding that the bank will make a matching contribution.
"As India battles the current wave of the pandemic, public-private partnerships are more critical than ever.
Access to emergency healthcare equipment is of utmost importance.
"We hope that our multiple engagements with NGOs and authorities to mobilise the necessary resources will help those who need them the most," DBS Bank India's chief executive and managing director Surojit Shome said.
For its staff, the bank has partnered with 'Connect and Heal' to facilitate vaccination for its employees, and is also helping to arrange oxygen concentrators for them to reduce the pressure on hospital beds.