Federal Bank Partners with Hedge Equities for PIS Services to NRIs

New Delhi ,18th January 2018: Federal Bank entered into a strategic partnership with Hedge Equities Ltd for providing Portfolio Investment Scheme (PIS) services to NRIs. A formal agreement was executed at Federal Towers, Marine Drive, Ernakulam on 10th of January 2018. On the occasion, Mr. Jose K Mathew (EVP & Head Retail Business, Federal Bank) and Mr. Alex Babu (MD, Hedge Equities Ltd) exchanged the MoU announcing the tie-up.

Federal Bank isauthorized by RBI to issue Permission Letter to NRIs on behalf of RBI totransact in secondary market. Presently the Bank has PIS arrangement with8 partners and through these tie-ups, the Bank facilitates NRIclients to invest in shares of Indian companies, in secondary market forpurchase/sale of shares or convertible debentures on repatriable and nonrepatriable basis. On the occasion Mr. Jose K Mathew, EVP & HeadRetail Business said that the Bank is competent to cater to all the needs ofNRI clients to invest in Indian Stock market and offers PIS services with bestin class service at extremely competitive rates. He also added that theBank is in the process of doubling the PIS business in terms of number ofaccounts and total volume.

 

Mr. Alex Babu, MD ofHedge Equities Ltd added that Hedge is slowly but surely transiting to awealth management company. Last one year we have shown growth in AUM by hundredpercent to 750 crore. Mostly it is contributed by NRIs and we expect thisgrowth to continue for next couple of years. The Federal Bank PIS tie-up willdefinitely help smoothen the process and accelerate the growth trajectory. 


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