IDBI Capital,PNB launch onle-trading portal for retail investors
New Delhi, Nov 22 (UNI) IDBI Capital Market Services Ltd and Punjab National Bank today jointly launched an online investing portal to cash-on the demand-supply gap in the capital market.
Both the companies have also signed an agreement to privide advanced e-trading services in the national capital and Mumbai, to be extended to 50 other centres from January 1, 2007.
Launching the portal, IDBIpaisabuilder.in, here IDBI Capital Managing Director and CEO S Muhnot said, ''The online trading portal is built with the core objective to provide easy and informed investing experience to investors.'' IDBIpaisabuilder.in is targeted mainly at the retail investors, many of whom have missed out on the recent boom in the Indian stock markets, PNB Ececutive Director K Raghuraman said.
''Retail investors are fearful of participating in the capital markets as they don't have proper information. The portal will give necessary updates on the performance of different companies and other background informations,'' IDBI Capital Market Services Ltd Marketing Manager Ketan Trivedi said.
About 16 lakh investors are registered online throughout the country. Of these, IDBI Capital and PNB target to capture one lakh in the first year of operations of the portal.
Through the partnership, PNB will be able to provide comprehensive investment solutions to all their customers. It will also help the bank to push its depository participant services. IDBI Capital in turn would benefit from the wide reach and nationwide presence of PNB.
The interested customers need to open a deposit account, a demat account and a trading account from any of the 165 branches of PNB spread across the country. Those who already have deposit and demat accounts with the bank will be required to open a trading account which will be facilitated by the branch of the bank on behalf of IDBI Capital.
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