State Bank of Mysore (SBM) in association with SBICap Securities Limited (SSL) launched e-trading services on Wednesday, to provide value added services to its customers.

Speaking on the occasion here, SBM Managing Director P P Pattanayak said, “The customers can now avail the triple benefits of a bank account, D-Mat account and internet trading account under one roof.” He said the facility would allow the bank customers to trade on BSE and NSE- equity and derivative segments directly without the brokers. 

Benefits for customer
e-trading facility also benefits customers as there is no necessity of writing cheques for trading payments, facilitates auto-pay in to CM Pool account and help customers when T+1 settlements becomes mandatory.
The bank informed that the facility is being offered at special tariffs. SSL provides online streaming quotes on browser and desktop version, online fund transfer, online payout requests, access to latest research reports and security to ensure privacy of information. The bank informed the facility is now available at designated branches in Bangalore, Mysore, Mumbai, Surat, Ahmedabad, Hyderabad and Chennai to be extended to other centres soon. Mr Pattanayak said that the bank has 287 ATMs and 649 branches. SBM has a total deposit of Rs 23,000 crore and total advances of around Rs 17,000 crore.