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| Exchange Disseminated Time | Indbank Merchant Banking Services Ltd has announced that during the centenary year of the parent Bank, the Bank, subsidiary of the Indian Bank, has launched "IndbankOnline', the online trading portal system that enables the customers to carry on dealings in stocks and shares from any where.
The "IndbankOnline", the trading portal was launched on January 10, 2007 by Dr K C Chakrabarty, Chairman and Managing Director of the Indian Bank in the presence of Shri M S Sundara Rajan, Executive Director of the Indian Bank, Dr Raja J Chelliah, Eminent Economist, Chairman Emeritus, Madras School of Economics and Director of the Bank, Shri T M Nagarajan, Former Whole Time Member, Securities and Exchange Board of India and Director of the Bank, Shri S Annadurai, President and Whole Time Director of the Bank, Senior Executives of the Indian Bank and host of other Dignitaries.
The Bank has offices at Chennai, Mumbai, Delhi, Bangalore, Coimbatore, and Ahmedabad. The Bank proposes to increase its operations under fee-based business by entering, Futures and Options segment, Portfolio Management Services and by establishing branch offices at Kolkatta, Hyderabad, Baroda, Pondicherry, Madurai and Tirunelvell in the year 2006 - 07 increasing the network of branches to 12 from the current level of 6. The Bank also plans to expand further by establishing 6 more branches in 2007 - 08 which will increase the total number of branches to 18.
The Bank has entered into an agreement with India Bank for the provision of Online trading facilities to the customers of Indian Bank. For availing this facility the customer has to open a net banking account and demat account with Indian Bank and online trading account with the Bank. This would enable the customer to trade from anywhere under the Internet based trading system. This will benefit all customers having account with CBS branches of Indian Bank for undertaking stock market operations.
Along with launching of IndbankOnline, Dr K C Chakrabarty, CMD of Indian Bank also inaugurated the new premises of the Bank at I Floor, Khivraj Complex I,480, Anna Salai, Nandanam, Chennai.
Indian Bank is proposing subject to market conditions and other considerations a Public issue of its Equity Shares and has filed a Draft Red Herring Prospectus with SEBI. |
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