Religare's Bancinvest channel ties-up KYB to hike equity trading

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Mumbai, Nov 12 (UNI) Bancinvest channel, floated by Religare, an integrated financial services provider, and Karur Vysya Bank (KYB) today announced their strategic tie-up, offering Religare's equity trading services to the Bank's customers.

This will eventually be followed by a roll-out of the entire spectrum of Religare's services to the Bank's customers.

Bancinvest channel already has tie-ups with IndusInd Bank, Tamilnadu Mercantile Bank, Corporation Bank and Bank of Rajasthan.

This new alliance is in line with Religare's strategy of increasing its reach and penetration across the country. This also facilitates the creation of new business opportunities and seamless customer centricity by leveraging the core competencies of both the organisations. Both organisations will work closely and leverage each other's strengths to eventually ensure customer delight.

In a statement here today, Religare Enterprises Limited chief executive officer and managing director Sunil Godhwani said, ''Religare's tie-up with Karur Vysya Bank is in line with our strategy of a pan-India penetration. This alliance with the bank will allow its customers to seamlessly execute their equity transactions effectively to best suit their needs and demands.'' Karur Vysya Bank managing director and chief executive officer P T Kuppuswamy said, ''KVB is a one stop shop financial supermarket that offers the entire range of financial solutions to its customers. Under parabanking activities, our customers get the conveniences of Bancassurance, demat accounts and investing in mutual funds. This arrangement with Religare will provide the three in one facility of demat account, bank account and trading account to our customers.'' UNI AR LY AG2051

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