Allahabad Bank, Aditya Birla money are in online services pact

By | September 29, 2011

According to the recent press report, Allahabad bank has entered into a strategic alliance with Aditya Birla money to provide financial services to its customer which facilitates the bank customers to invest in the online financial products. Aditya Birla money is the broking, wealth management and retail distribution arm of Aditya Birla Financial Services group.

According to reports the tie-up is likely to enable Aditya Birla Money to tap the bank’s customer base and provide them with online trading facilities. The reports also said that through this tie-up, the Kolkata-based bank will be able to extend its offerings ahead of the empire of traditional banking, creating significant value for their customers and providing them a superior trading experience with faultless integration of state-of-the-art technology.

The bank’s account holders can benefit from Aditya Birla Money’s single window interface to invest in equities, derivatives, commodities and IPOs.

Allahabad Bank was the first Nationalised bank in Eastern India to launch Depository Participant Services from Kolkata with its own Server attached to the Premier Depository, National Securities Depository Services Limited (NSDL).

The Bank is now offering the Depository Services through both NSDL and CDSL. The bank has extended its Depository Functions through major cities like Lucknow, Varanasi, Kanpur, Mumbai and New Delhi which was recently added to its growing list.

Allahabad Bank, the personal lender includes home loan, personal loans, vehicle loan, business loans, educational loan etc in its credit basket.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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