PNB opens dedicated stock broker branch in Mumbai
Mumbai, Aug 19 (TNT): Punjab National Bank (PNB) has inaugurated a dedicated Stock Broker Branch in Mumbai, strengthening its focus on providing specialised banking services to the stock broking fraternity.
The branch is located opposite the iconic Bombay Stock Exchange (BSE) building, giving it a strategic location advantage, the Bank said in a release here.
The inauguration was attended by PNB Managing Director and CEO Ashok Chandra, BSE Managing Director and CEO Sundararaman Ramamurthy, BSE Clearing Limited (BSECL) Managing Director and CEO Vaisshali Babu, PNB Chief General Manager and Zonal Head-Mumbai Deepak Srivastava and Circle Head-Mumbai City Rajeev Kamal.
Representatives from BSE, NSE, MCX and BSECL, along with customers and other stakeholders, were present at the event.
Addressing the gathering, PNB MD and CEO Ashok Chandra said the bank was focused on offering state-of-the-art products tailored to the requirements of the stock broking sector.
The dedicated branch is aimed at providing stock brokers with end-to-end financial services through digital banking solutions. Its key offerings include e-FDR facility in collaboration with NSE Clearing Corporation, electronic bank guarantees (e-BG), overdraft against securities and bank guarantee limits.
With dedicated relationship management, reduced turnaround time and efficient control systems, PNB said it aims to cater to the banking requirements of stock brokers and strengthen its presence in the stock broking segment.
TNT KS
