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PNB Launching On-Line
Share Trading Facility
New Delhi November 22, 2006
K. Raghuraman, Executive Director, Punjab National Bank in
the presence of O. P. Bundellu, DMD of IDBI Ltd., today
launched the on-line Securities Trading facility.
U.S. Bhargava, General Manager of Punjab National Bank
today signed Memorandum of Understanding with IDBI Capital
Market Services Ltd. in providing Online Security Trading
facilities to its customers. On behalf of IDBI Capital Market
Services Ltd., the agreement was signed by Sushil Muhnot, CEO
of IDBI Capital Market Services Ltd.
This facility is a step towards PNB's endeavour to become
"one stop shop" to offer its customers an "End to End"
solution of all their financial needs under one roof.
Now the customers can approach for availing three-in-one
account facility from any of the Bank's authorized branches
under which a deposit account, a demat account and a trading
account will be opened at one stop. Those who already have
deposit and demat accounts with the Bank shall be required to
open a Trading account which will be facilitated by PNB's
authorized branch itself on behalf of IDBI Capital Market
Services.
The facility is made available seamlessly wherein the
customers himself can trade on line without intervention of
Bank and/or IDBI Capital Market Services.
At the outset Bank is launching this facility in Delhi &
Mumbai. From 1st January 2007 this facility will be available
at 50 odd centers, PAN India. Demat account can be opened
through 165 odd branches spread over the country, authorized
for Depository Business.
With this initiative, customers will be able to enjoy one
more financial service and Bank would have an additional
revenue stream to augment its fee-based income, besides the
volume of business, both in asset & liability side is likely
to grow at a good pace.
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