BoB ties up with BSE to become clearing and settlement bank

Mumbai, Jun 19 (UNI) Bank of Baroda (BoB), today entered into an agreement with Bombay Stock Exchange (BSE), Asia's oldest bourse, to become a Clearing and Settlement Bank.

With the signing of this new agreement, BSE will now have a tripartite arrangement with BOI Shareholding Ltd (BOISL) and BoB for clearing and settlement.

M D Mallya, Chairman and Managing Director of Bank of Baroda said, ''The bank looks at this tie up as a customer-centric strategy. In its drive towards providing greater customer convenience, the Bank will continue to enlarge its basket of products, both its own as also third party, leveraging its vast branch infrastructure.'' BSE Managing Director and CEO Rajnikant Patel said, ''Bank of Baroda, like BSE is one of the oldest financial institutions of the country. Bank of Baroda enjoys a wide network of 2,800 branches and a vast database of 33 millions customers. With this new arrangement, we hope to attract more and more customers of the Bank to trade through BSE.'' UNI AR SR SKB1852