Religare joins hands with South Indian Bank

This will form part of a convenient 3 in 1 account for the bank’s customers (savings account, demat account & trading account).

The partnership 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, 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. ”

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.”