 |
| |
| Punjab National Bank launches Online Trading in association with SMC |
| |
| Punjab National Bank (PNB), commemorating its 115th foundation, announced the tie up with SMC Global, India’s leading financial services company & NSBL. In its endeavor to provide new age technology blended with years old trust, Punjab National Bank announced the strategic alignments to offer Online Trading services to the customers using SMC Global and NSBL’s network. Punjab National Bank is India’s largest nationalized bank with a network of 4,600+ branches across 350+ cities. |
 |
| |
| PNB signed an agreement to this effect with SMC Global Securities Ltd, SAM Global Securities Ltd, SMC Comtrade Ltd and NSBL. Shri Ranjan Dhawan, Chief General Manager (PNB), Shri S C Aggarwal, CMD- SMC & Shri Girish Dev, CEO- NSBL signed the agreement in the presence of Dr K C Chakrabarty, CMD, Punjab National Bank. The agreement is the logical culmination of the Memorandum of Understanding (MoU) which was previously signed between PNB with the respective brokers on the 19th of September 2008. Post the MOU there was a soft launch of the product in a few selected branches. After the success of the same and keen customer interest for the product, PNB will now make the Online Trading services available at all CBS branches across India. |
| |
| PNB customers, now with this 3-in-1 (Savings Bank, Demat, and Trading Account), can enjoy the convenience of investing in financial products from the comfort of their homes/ offices or while on the move or from any other location of their choice by just accessing the SMC website (www.smcindiaonline.com ) and also by clicking on the link to Online Trading provided on the homepage of the bank’s website (www. pnbindia.com). |
| |
| SMC Group is a leading full fledged financial services provider in India offering institutional and retail brokerage, equity, commodity and derivative trading, on-line trading services, Wealth Management & PMS, investment banking, custodial services, clearing services, Research & advisory services , distribution of mutual funds, IPOs and insurance products. SMC has one of the largest networks in India with a footprint of 1500+ offices across 350 cities; it serves the financial needs of over 5.5 lacs investors presently. SMC has also been ranked as the 4th largest brokerage house in India (source: Dun & Bradstreet) & has been rated as the fastest growing retail distribution network in financial services. More information regarding the SMC Group can be found at www.smcindiaonline.com |
| |
| Speaking on the occasion, Dr. K.C. Chakrabarty, CMD, PNB, said that the bank has aggressively absorbed technology into its operations resulting into new delivery channels and services. Taking a further step in this direction, the new alliance gives birth to a unique “3-in-1 account offering” comprising of Savings Account, Demat & Trading Account together. Following this tie-up, PNB customers now have the additional option of clicking on the link of Online Trading provided on the home page of the bank’s website and making investments in Equities, Derivatives, Commodities, Initial Public Offerings (IPOs), Mutual funds using the online trading platform of SMC and NSBL from the comfort of their homes/ offices or while on the move or from any other location of their choice. |
| |
| Mr. S C Aggarwal, CMD, SMC Global on the occasion stated, "It is infact a win-win alliance for PNB, SMC & for the clients too. Through this alliance, now close to 40 million PNB customers can access our state-of-the-art online trading services which would be available at the huge network of 4600+ branches of PNB and supported by the SMC network of 1500 offices across 350 cities. In addition to the existing huge customer base of the bank, the alliance would equally & aggressively target the acquisition of new generation customer group by offering top of the class technological product. Besides this, SMC provides excellent research & advisory to the customers, which makes Online Trading easier and productive in terms of overall returns to the clients”. |
|
|
