IDBI Bank becomes BSE clearing bank

Mumbai, Apr 26 (UNI) Industrial Development Bank of India (IDBI) Bank today became the clearing bank of Bombay Stock Exchange (BSE) Ltd.

This initiative by BSE is an attempt to provide more options to the BSE members.

During the signing ceremony of agreement between BSE and IDBI Bank, Mr Rajnikant Patel, MD&CEO of BSE told reporters'' the Exchange is committed to offer its members excellent services and admission of IDBI Bank as a clearing Bank is a step in the right direction.'' During the last two years, BSE has sold around 200 new memberships and the Exchange has expanded its terminal network to 423 cities across the country, he said.

''It is a matter of great pleasure for BSE to have IDBI Bank as one of its clearing banks.This initiative is a part of BSE's efforts to provide the best of facilities,efficient and professional services to our members,