Public sector lender United Bank of India (UBI) has unveiled ‘U-Connect’, an integrated online platform for buying and selling shares. The bank has launched it in collaboration with The Calcutta Stock Exchange, one of the oldest stock exchanges of the country. The customers having a bank account and a demat account will be able to avail this service.
The product will be first made available in select branches of the bank in Kolkata and shall soon be extended to the select branches of all major cities in India. The mobile version of the product is under development and by the end of this financial year it is expected to be ready. Further, UBI plans to integrate online mutual funds, insurance schemes and tax savings schemes like Rajiv Gandhi Equity Scheme within this product in the near future.
This tie-up with the bank is the stock exchange’s first time entry in the retail space and will have to depend on the branch network and the captive client base of UBI largely to make the product a success.
Further, the bank has also inaugurated a specially designed lounge for retail investors at its branch premise on the ground floor of its Head Office and is all set to have such lounges within its branch premises in important locations so that the clients can come and conduct their transactions.
| Company Name | CMP |
|---|---|
| SBI | 743.15 |
| Bank Of Baroda | 225.35 |
| Canara Bank | 92.85 |
| PNB | 98.65 |
| Union Bank Of India | 103.60 |
| View more.. | |
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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