OBC inks MoU with IL

New Delhi, Nov 23 (UNI) Oriental Bank of Commerce (OBC) today said it has signed a Memorandum of Understanding (MoU) with IL&FS Investsmart for providing online/offline trading facility in shares to its Demat account holders.

With this facility, demat account holders would have the trading facility through internet (online) and at the designated branches for offline trading, that is comprehensive investment solutions would be available to the customers.

''With this alliance composite facilities shall be available to the customers/clients of the bank and IL&FS Investsmart,'' said OBC Chairman and Managing Director K N Prithviraj.

OBC has a customer base of more than one lakh account holders availing demat facility through its 111 branches in respect of both the depositors (NSDL and CDSL).

OBC is now serving customers through its 1,214 branches and 102 extension counters. The bank provides Bancassurance and mutual fund products to its customers.

Extending demat Accounts with online/offline trading facility will be another milestone in converting its branches into a One Stop Shop for a variety of banking and financial products and services.

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