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Syndicate Bank has tied-up with Asit C. Mehta Investment Interrmediates (ACMIIL) for the launch of ‘Synd e-Trade' — an online trading platform. This platform will enable the customers of Syndicate Bank to make investments in equities, derivatives and initial public offerings, said the bank in a release.
“Customers who have a bank account and demat account with Syndicate Bank, will now have the facility to open an online investment account with Asit C. Mehta Investment Interrmediaries Ltd,” said Mrs Deena Mehta, Managing Director, ACMIIL.
The platform will link existing bank and demat account and provide flexibility in order placing — through the Web or through phone calls. It was announced that one staff member of every branch would be trained in the operations of this platform. Already around 128 accounts have been opened in the Mumbai region, said Mr M. Anjaneya Prasad, Executive Director, Syndicate Bank.
Syndicate Bank has about 1.5 crore customers and will not charge any fees for the transactions, he added. Syndicate Bank announced its results on Saturday, which were up 36.2 per cent to Rs 322.94 crore, on a year-on-year basis.
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