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TAIB ties up with HDFC Bank, unveils indiadirect for investors news
Our Banking Bureau
31 March 2003
Mumbai: Online trading is all set to be easier, quicker and more streamlined with the launch of indiadirect (, the online presence of Bahrain-based TAIB Bank. indiadirect has been launched for the Indian and non-resident Indian (NRI) audience and offers the investor a smarter way to invest in Indian equities.

In addition to online trading, the indiadirect customer will have access to proprietary research from TAIB Securities (India) Ltd besides company reports, stock picks, streaming quotes and an integrated order-entry process. All this will enable the investor to make a better and well-informed investment decision.

Says TAIB Securities India director Girish Nadkarni: ''indiadirect has been designed to ensure seamless trade that offers a hassle-free trading experience. The product has the advantage of the highest level of security and best-quality research.''

With TAIB's strong global network, sound financial backing and close business relationships with India's top companies, the indiadirect customer, specially those based in the GCC, can expect one of the most secure and dependable trading experiences available in India.

HDFC Bank has made available a new e-broking interface to TAIB Securities, providing online real-time access to its payment and depository gateways, thus enabling complete straight through processing for the indiadirect customer. Additionally, the online interface to TAIB is on a digitally certified channel, which makes it the highest level of security that is commercially available in the industry today.

Says HDFC Bank vice-president P V Ananthakrishnan: ''The bank has developed the payment gateway interface to facilitate the brokers to provide online trading with the highest level of security. This is done with digital certification on a server-to-server basis. By this a broker can have a larger reach with their customers in a more secured channel and complete the broking transaction on an online real-time basis. The combination of a large network and Internet banking being offered through the payment gateway will provide a platform to do online trading on a real-time and secured basis.''

TAIB Bank has combined all of their product offerings from to create a single destination of investment services with the goal of providing the most intuitive and convenient online investment experience for customers, while also providing online account access and essential corporate information.

Trading with indiadirect enables the customer to trade instantly as broking, depository and cash accounts and all transactions are integrated. The trader can also access real-time quotes through the unique software that enables instant auto refreshing to receive them as they happen.

indiadirect also employs the most advanced encryption technologies - a secure socket layer (SSL), digital certification and 128-bit encryption - which ensure the safe exchange of transactional and personal information across the Internet. Other account features include investment tools, live news, portfolio manager, stock picks, online access to contracts and account statements.

TAIB Bank is the first Gulf-based institution to receive a foreign institutional investor (FII) status in India through TAIB Securities (India). With long-term, well-established links to leading local merchant banks and business houses, TAIB is uniquely positioned to keep abreast of the latest trends and provide insight into the growing opportunities within India - particularly within the high-technology sector. Worldwide, TAIB offers managed funds, real estate, private placements, advisory services and brokerage services.

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TAIB ties up with HDFC Bank, unveils indiadirect for investors