Online trading services launched by Vijaya Bank
By Ankit Sharma
Jul 1, 2010
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Public sector lender, Vijaya Bank has introduced online banking services in collaboration with IDBI Capital Market Services. The customers of the bank would be facilitated in trading in equity, IPOs, Mutual Funds and other capital market assets.

The bank will look after the trading accounts like savings and demat accounts while the trading arm will be looked after by IDBI Capital.

Speaking of the base rate regime, Vijaya Bank Chairman and Managing Director Albert Tauro said that base rate is not going to bring immediate impact on customers.

"The Reserve Bank of India (RBI) has given banks a window of six months to rework interest rates," Mr. Tauro said. He also declared that the bank would have its base rate between 8 to 8.5%.

Talking about the impact base rate would have on the bank in terms of increased competition, he said, "Though we will be affected, big banks also cannot entertain everyone, as prudential norms have to be followed. We are also hoping the ‘relationship' banking to attract our customers."


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