Religare joins hands with South Indian Bank

   

Religare joins hands with South Indian Bank to further strengthen 

its “Bancinvest” channel

Offers Powerful & convenient 3 in 1 account 

for the Bank’s customers

Religare Securities Ltd. (RSL), a wholly owned subsidiary of Religare Enterprises Limited (REL), India’s leading diversified financial services company, and South Indian Bank, one of the leading private sector Banks in South India, have entered into a strategic tie-up to offer RSL’s online trading platform to the Bank’s customers. This will form part of a convenient 3 in 1 account for the bank’s customers (savings account, demat account & trading account).

This will be followed by a roll‐out of the entire spectrum of Religare’s portfolio of products for the customers of South Indian Bank. The partnership is a step forward to further strengthen the “Bancinvest” Channel created by Religare, which already includes tie‐ups with UCO Bank, IndusInd Bank, Tamilnad Mercantile Bank, Corporation Bank, Karur Vysya Bank, Bank of Maharashtra, Union Bank and Andhra Bank.

With customer centricity at the core of this alliance, Religare and South Indian Bank will look to create new business opportunities by leveraging core competencies of both the organizations. The online trading facility will be part of the value‐added offer for the Bank’s savings account customers. The bank’s customers will get savings and depository accounts along with Religare’s online trading account.

Commenting on the tie-up, Mr.  Basab Mitra, Chief Executive Officer, Religare Securities Ltd.  said,  “We  are  pleased  to  announce  a  strategic alliance with the South Indian Bank which will further boost  our strategy  to increase pan‐India presence  and reach out to a wider audience. The tie‐up also gives us an opportunity to provide a one stop shop solution to all the customers of South Indian Bank, beginning with an online trading platform and later offering the entire gamut of products and services from the Religare portfolio. ”

Mr. V.G.Mathew, Executive Vice President, South Indian Bank said, “Our Partnership with Religare speaks of our commitment to provide the whole range of financial products to our valuable customers under one roof. This alliance will enable us to expand our bouquet of capital market related facilities for our customers.” 

About Religare Securities Ltd.

Religare Securities Ltd. (RSL) is a wholly owned subsidiary of Religare Enterprises Limited (REL) and is one of the market leading securities firms in India serving over 8 lakh clients across both Offline and Online platforms. Through its extensive footprint extending to over 500 cities, the company offers broking services in Equity, Currency and Commodity (through its subsidiary Religare Commodities Limited) as well as depository participant services.

RSL is a member of the NSE, BSE, MCXSX, USE and a depository participant with NSDL and CDSL. RSL also offers TIN facilitation & PAN facility at select branches - a unique service to help an individual with PAN, TAN and TDS/TCS returns related requirements. In addition, RSL is an NSDL-appointed enrolment agency for Aadhaar UID (Unique Identification Number) and an AMFI-registered mutual fund distributor.

The platform has been endorsed by various awards. RSL was awarded the "Best Investor Education & Category Enhancement – Currency Broker" and the "Best Commodity Broker" at the Bloomberg UTV Financial Leadership Awards in 2012. RSL was also ranked among the top three retail equity brokerage houses in India and adjudged "Best Broking House with a Global Presence" by Dun & Bradstreet.

About South Indian Bank

The South Indian Bank Ltd is one of the leading commercial banks in the Indian Private sector, head quartered at Thrissur. South Indian Bank has 811 branches and 1043 ATMs spread across 28 states and 7 union territories in India. The bank has over 7 million premium loyal customers across the globe with strong presence in all NRI belts of the country.

South Indian Bank has been prominently focusing on introducing technology driven customer – friendly products over the years. The tagline ‘Experience Next Generation Banking’ is embodied with the wide range of competent products and services it offer and the customer delight reaped in.