Mumbai, Mar 13: India's leading financial services provider, IDBI Capital Market Services and Union Bank of India today announced their tie-up to offer e-trading services to the customers of this public sector bank. Announcing this at a press conference here, IDBI Capital MD and CEO S Muhnot and Union Bank CMD M V Nair said that these services are being provided through a portal, www.idbipaisabuilder.in.
Mr Muhnot said that IDBI Capital, a hundred per cent subsidiary of Industrial Bank of India (IDBI), already has a similar tie-up with IDBI Bank, Punjab National Bank, Oriental Bank of Commerce, Bank of Rajasthan and Karur Vyasa Bank. ''Our target is mainly retail investors, many of whom have unfortunately missed out on the recent boom in Indian stock markets,'' he said, adding that the total customer base of these e-trading services are at present 40,000 and plans are afoot to double this number in the near future.
Mr Nair said that this association will provide customers of the bank with a world class online investing platform. This tie-up takes Union Bank one step closer towards its vision of becoming a one-stop-shop for financial services, he added.