State Bank of Mysore launches e-Trading service

State Bank of Mysore launches e-Trading service

Bangalore: The State Bank of Mysore on 19 September launched e-Trading service, for the first time in Karnataka, to provide triple benefits of bank account, D-Mat account and Internet Trading under one roof.

The new service is being offered to customers in association with SBICap Securities Ltd and would be available at its identified branches in Bangalore, Mumbai, Chennai, Surat, Ahmedabad and Hyderabad, SBM Managing Director P.B. Pattanayak told a press conference here.

The facility would help customers get multiple benefits including free from risk of loss, bad deliveries, funds transfer, online payout requests, access to latest research reports and high level of security to ensure privacy of information, he said.

“All these services are being provided at competitive charges," Pattanayak said.

It would also allow customers to trade on BSE and NSE- Equity and derivatives segment without the hassles of running around to the brokers office for placing orders or transfer of stocks by filling physical delivery instruction slips for their D-Mat accounts.

The bank’s turnover has crossed 40,000 crore at the end of this August, he said adding all its 649 branches was brought under CBS.

SBICap Securities Ltd Managing Director Sridhar Raju said the e-Trading facility would be extended to all the associate banks of State Bank of India.