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Federal Bank has entered into a strategic partnership with two new broking partners, Celebrus Capital & Fortune Wealth Management for providing portfolio investment services (PIS) to NRIs.
With these two new arrangements, the bank has so far partnered with nine broking companies, to enable NRI clients to invest in Indian equity markets on repatriable and non-repatriable basis.
Jose C Abraham, Managing Director, Fortune Wealth Management, said the company, together with Federal Bank, will facilitate NRI investment in India’s vibrant equity markets through the PIS and the tie-up will emerge as customer-friendly and hassle-free mechanism for Indians living abroad to invest in Indian equities without losing the NRI status of their savings.
Transparent biz
According to Giby Mathew, Managing Director, Celebrus Capital, the tie-up will immensely help the company to offer the available investment opportunities in the Indian capital market for NRI investors in a transparent manner.
Jose K Mathew, EVP & Head, Retail Business Department, Federal Bank, said the bank is competent to cater to all the needs of NRI clients to invest in Indian markets and offers PIS services with best-in-class service at extremely competitive rates. The bank is in the process of doubling the PIS business.
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