Infoline signs pact with Saraswat
India Infoline has a entered into a strategic alliance with Saraswat Bank to offer equity research, broking and portfolio management.india Updated: Feb 02, 2006 15:01 IST
India Infoline Ltd a financial service provider, has a entered into a strategic alliance with Saraswat Bank to offer equity research, broking and portfolio management services to the bank's clients.
The memorandum of understanding for the strategic alliance was signed on Thursday by India Infoline CMD Nirmal Jain and Saraswat Bank MD Samir Banerji.
As per the alliance, India Infoline would extend its broking facilities to the online as well as offline customers of the bank via its broking brand, 5paisa.Com, it informed the Stock Exchange.
The bank's customers inturn would get access to the company's research and online technology platform at no cost and would be offered the most competitive brokerage rates as well.
Customers would also be able to trade in equities, derivatives as well as commodities through any mode namely internet, telephone or physically at any of the company's branches using only one account.
"We are proud of this association as Saraswat Bank enjoys tremendous goodwill and trust with its customers, which has been built assiduously over the years. I am sure that our emphasis on customer centric service, cost optimisation to offer best value to customer, will make this alliance a win-win proposition, " Nirmal Jain stated.
The two organizations are working on integrating the technology platforms so that a customer having a depository account with the bank can also sell those shares without any cash margin and trade seamlessly.