| * Making investing an 'easy' and 'informed' experience through www.idbipaisabuilder.in |
| Mumbai, 13th March 2008: IDBI Capital Market Services Ltd., a leading provider of financial services in the country and Union Bank of India, a leading nationalised Bank in the country, have today announced their strategic tie-up to offer IDBI Capital's internet trading services platform to the Bank's customers. It already has similar tie ups with Punjab National Bank, IDBI, Oriental Bank of Commerce, Bank of Rajasthan and Karur Vysya Bank. |
| Union Bank of India, with its network, ethos and customer-centric approach plan, is attempting to address the fast-growing phenomenon of internet trading and seamlessly cater to the convenience and value-seeking, cash-rich and time-poor new-age consumers. The integrated portal IDBIpaisabuilder.in will allow customers of the bank to seamlessly execute their transactions as per their needs and demands. Any customer of Union Bank of India at any of its CBS branches can use this online trading platform from any place having an internet connection. When the customer indicates an intention to purchase any security, his account is earmarked with the amount. The amount is debited from his account only when the transaction is put through and his demat account is credited in due course. Similarly when he desires to sell securities, lien is marked on thee securities. When the transaction is concluded his demat account is debited and his account is credited in due course. |
| This new alliance is in line with IDBI Capital'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". |
| Commenting on the tie up with IDBI Capital, Mr MV Nair, Chairman & Managing Director, Union Bank of India, said, This tie up takes Union Bank one step closer towards its vision fo becoming a one stop shop for financial services offering technology technology based products for its customers." |
| Commenting on the strategic alliance, Mr. Sushil Muhnot, MD & CEO, IDBI Capital Market Services Ltd., said "An advanced online trading portal, IDBIpaisabuilder.in is built with a core objective to provide easy and informed investing experience to investors. This association will provide customers of the bank with a world class online investing platform with the backing of two very reputed and established financial institutions of the country. We are extremely glad to be associated with Union Bank of India in this venture." |
| He added, "This strong alliance will help us to expand our services to the consumers on a larger platform, IDBIpaisabuilder.in is targeted mainly at the retail investors. The site will enable the investors to make an informed decision by minimising risk involved in equity investment support the investor throughout the entire investment process including faster trade executions." |
| About www.idbipaisabuilder.in |
| IDBIpaisabuilder.in is a portal designed to empower the common investor with the information and analytical tools needed to take charge of their investing needs. The portal enables online investing in Equities, Mutual Funds and IPO's. IDBIpaisabuilder.in helps investors make the right investment decisions by providing them with pertinent news, information and analysis along with company specific fundamental analysis. Facilities of investing online in Equity (NSE & BSE), Mutual Funds (including SIP facility) and IPOs, portfolio tracker, choice of equity trading platforms and custom stock screener are some of the other unique features, apart from the comprehensive information and analytical tools that are showcased on IDBIpaisabuilder.in. The portal has been designed keeping a retail investor in mind for easier comprehension and very easy navigation within the site. |
| About IDBI Capital |
| IDBI Capital Market Services Ltd. is a leading provider of financial services and is a 100% subsidiary of Industrial Development Bank of India (IDBI). |
| The organization was set up in 1993, with the objective of catering to specific financial requirements of financial institutions, banks, mutual funds and corporate houses. |
| IDBI Capital provides a complete range of financial products and services that includes Stock Broking for Institutional and Retail clients, Depository Services, distribution of Financial Products, Investment Banking, Investment Advisory (Mutual Funds / Portfolio Management services), Corporate Advisory services, Debt arranging and underwriting, PF/Pension Fund Management, Client Asset Management, and Research Services. IDBI Capital was recently adjudged the 'Best National Financial Advisor "� Institutional' at the CNBC-TV18 Financial Awards 2008, for the second consecutive year. |
| Visit www.idbipaisabuilder.in ; www.idbicapital.com |
| About Union Bank of India |
| Union Bank of India, established in the year 1919, is a leading nationalized Bank and is presently ranked amongst the top five Public Sector Banks in India. The Bank has crossed business figure of Rs. 174000 crore as on Dec 31st 2007 and recorded Net Profit of Rs. 866 crore. The Bank is in a very advanced stage of technology implementation and has already interconnected more than 98 % of its total business across the country. The Bank has won the prestigious NASSCOM award for technology implementation. |
| The bank is well equipped with the Staff, technology & Infrastructure to cater to all kinds of Banking / financial needs of Corporate as well as Retail customer. The Bank has a strong network of more than 2300 branches, covering almost all major centers of the country. Recently Bank has opened 63 new branches in one single day, which is a record in itself. With aggressive adoption of technology savvy banking solutions like Core Banking, RTGS, Internet Banking etc, the Bank has positioned itself to opportunities that technology has thrown open. The Bank is pioneered in introducing services like e-payment of direct and indirect taxes. More than 2100 branches in about 1300 centers are online under Core Banking Solution. With this, our clients may deposit / Withdraw Cash / Transfer Money at various locations at their comfort. |
| The Bank has embarked upon project NavNirman that aims at centralization of cheque clearing services, issuance of cheque books, Account Opening, Pension payments and loan processing etc. |
| PRODUCT OFFERINGS: Bank offers a range of asset loan products, deposit products and new generation third party products, which let the customers to realize their objectives and dreams. Some of the major loan products offered by our Bank are Union Home, Union Education, Union Miles, Union Trade etc. Besides normal banking transaction the Bank also offers Life Insurance Policies, General Insurance Coverage, ECGC coverage, Mutual Funds, Demat and Online Trading Services and Convenient utility Bill Payment System to its clients. |
| Bank has forayed into Life Insurance Business by forming a joint venture company in association with Bank of India and Di-ichi Mutual Life Insurance co ltd of Japan. |
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