E-services for UBI customers

Customers in India will be provided online trading facilities under the partnership between Union Bank of India and Emkay Share and Stock Brokers.

There are 22 million customers in the country using the bank services. 220,000 of them are using its internet banking service.

"We will initially roll out this service in Tamil Nadu where we have over 20,000 customers using Internet banking and it is likely to touch 50,000 the end of this year," said Mr P. Y. Nagar, general manager, Union Bank of India.

Emkay offers e-investing platform, Emtrade which allows bank's customers to execute their transaction seamlessly.

"We see this relationship a medium to empower the customers of UBI with sound investment options through our trading platform and backed by our established research expertise," noted Mr Krishan Kumar Karwa, managing director of Emkay.