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| Exchange Disseminated Time | Emkay Share & Stock Brokers Ltd has informed BSE regarding a Press Release dated June 02, 2008 titled "Union Bank of India in Alliance with Emkay Share & Stock Brokers Ltd to provide Online Trading Facilities".
Press Release:
"Union Bank of India (UBI), a leading nationalized Bank in the country announced a strategic alliance with Emkay Share and Stock Brokers Ltd, a Leading stock broking Company in India, which will offer Emkay's online trading services to the Bank's customers.
Union Bank of India, with its network of 2518 branches, all integrated under Core Banking Solution and with its ethos and customer-centric approach plan, is attempting to address the fast-growing phenomenon of internet trading and offers a convenient platform to the value-seeking, cash-rich new-age consumer, Looking to save precious time. The E-Investing platform EMTRADE, offered by Emkay wilt allow the Bank's customers to seamlessly execute their transactions according to their investment needs and at their convenience. Any customer of Union Bank of India at any of its CBS branches can use this online trading platform from any place with an Internet connection. This is one more initiative of the Bank to offer technology-based products to its customers.
Mr. Pravin K Bansal, Dy. General Manager, Union Bank of India said, "This association is aimed at offering to UBI's customers the convenience of online investing as well as the ability to make informed investment decisions. We are assured that this synergy would prove beneficial to the two organizations and also to the end consumer"
This new alliance is in line with Emkay's strategy of increasing its reach and penetration across the country. This also facilitates the creation of new business opportunities and enhances customer centricity by Leveraging the core competencies of both organizations. UBI and Emkay will work closely and leverage each other's strengths to eventually ensure "customer delight".
Commenting on the strategic alliance, Mr. Krishna Kumar Karwa, MD, Emkay Share a Stock Brokers Ltd. stated "This is a win-win alliance for UBI and Emkay. We see this relationship as a medium to empower the customers of UBI with sound investment options through a state-of-the-art platform and informed guidance backed by Emkay’s established research expertise. We are extremely glad to be associated with Union Bank of India in this venture"
Emkay has a very strong presence in Southern India and Tamilnadu in particular. Emkay has 13 branches a 17 franchisees covering Tamilnadu, which includes 5 branches, a Regional Office and 7 franchisees in Chennai alone. In the current financial year Emkay plans to add four more branches and at Least 15 more franchisees in the City of Chennai. This reconfirms the promise that Emkay foresees in this city towards achieving its plans." |
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