BSE Empanels Dhanlaxmi Bank as a Clearing and Settlement Bank
The Bombay Stock Exchange (BSE), Asia’s oldest bourse and Dhanlaxmi Bank, on February 18 entered into an agreement which empanels Dhanlaxmi Bank as its clearing and settlement bank.
The Bank offers a number of innovative capital market products to its customers and has recently announced the launch of its E-broking services. Mr. Rajeev Deoras, Head, Wholesale Banking, Dhanlaxmi Bank said, “We are extremely pleased to announce our association with BSE as the Clearing and Settlement Bank. The Bank will provide a seamless interface to all BSE customers to enable a safe and easy transaction on a day-to-day basis. The association will give us the desired visibility and an opportunity to Bombay Stock Exchange (BSE), the oldest stock exchange in Asia. The Bank offers a number of innovative capital market products to its customers and has recently announced the launch of its E-broking services. The Bank aims to be amongst the showcase our team’s knowledge base and technological strength required to manage a noteworthy task like this.”
Dhanlaxmi Bank in recent past has embarked on a high growth expansion strategy. The Bank has reoriented its team, has expanded its presence pan India and has also introduced several new and innovative products for its customers. The Bank today has a fully integrated technology platform to support all its financial service offerings and its backend processes.
“We welcome Dhanlaxmi bank in our clearing and settlement banks’ fold. The bank has dedicated business verticals backed by high end technology platform. As a part of their initiative to become a full fledged universal banking group they have entered the growing business of Clearing and Settlement in the Capital Markets segment. With this alliance, we hope to leverage the bank’s expertise and attract more customers of the Bank to trade through BSE”, added Madhu Kannan, MD & CEO, BSE.