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IDBI
Bank to help investors make money
5
January 2006
 New
Delhi: IDBI
Bank's financial services division IDBI Capital has launched
an online investment portal to provide information, analysis
and tips to retail investors to help them invest in IPOs,
equities and mutual funds.
The portal Idbipaisabuilder.in is targeted at retail
investors who have missed out the boom in Indian stock
market. The site will concentrate on helping them in right
decision-making by minimizing risk involved in equity
investment, the bank said. The investors will be given
unique bank, demat and trading accounts, which will be
safe for carrying out trading, the bank said.
Apart from this, investment information on the portal
would free to all. To carry out trading, an investor would
be required to enroll as a member by paying a one-time
fee of Rs700 and thereafter only broking charges for trading
in shares.
IDBI Capital has also roped in top 15 broking houses to
give recommendations to retail investors. Besides online
guidance, IDBI Capital will open about 350 franchises
in urban and rural areas to help investors who do not
have access to Internet.
The portal has two platforms 'Paisa Power Classic Account'
for relatively new investors and 'Paisa Power Streaming
Account' for active investors in BSE and NSE. The company
aims to introduce trading in commodities, F&O and
debt instruments later.
Meanwhile IDBI Bank is foraying into commodities, mutual
fund, insurance and pension, as it has shifted focus from
wholesale to retail segment to emerge as a financial powerhouse.
The bank has applied to SEBI and RBI for approvals to
set up an asset management company (AMC) which would be
in place by March 2006, said IDBI Capital CEO S Muhnot.
The AMC is likely to start operations from the first quarter
of next fiscal or from April 2006.
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