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Media Release BSE inducts Kotak Mahindra Bank as clearing bank Kotak Mahindra Bank today joined the Bombay Stock Exchange Ltd (BSE) as a clearing Bank. The induction of Kotak Bank will expand the options for the BSE members. It demonstrates the commitment of the Exchange to offer its members excellent services and admission of Kotak Bank, as a Clearing Bank is a step in that direction. During the last two years BSE has sold over 200 new Memberships and the Exchange has expanded its terminal network to 423 cities across the country. During the agreement signing ceremony of between BSE and Kotak Mahindra Bank, Mr. Rajnikant Patel, Managing Director & CEO of BSE said, " We welcome Kotak Mahindra Bank as clearing bank to the BSE fold. BSE has taken many new initiatives to provide the best of facilities, efficient and professional services to our members. BSE will also leverage Kotak Mahindra Bank's expertise in the financial market to provide innovative products and services for the benefit of brokers, market intermediaries, corporates and others." Kotak Mahindra Bank's Quote : Speaking on the occasion, Mr Uday Kotak, Vice Chairman and Managing Director of Kotak Mahindra Bank Ltd, said “Kotak Mahindra Bank is delighted to be empanelled with the Bombay Stock Exchange as a clearing bank. This empanelment will help the bank in completing the bouquet of services that it can offer to the BSE constituent members and enable the bank to provide a comprehensive and integrated range of products and services to the BSE members.” About Bombay Stock Exchange Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich heritage. Popularly known as "BSE", it was established as "The Native Share & Stock Brokers Association" in 1875. It is the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the Securities Contracts (Regulation) Act, 1956. The Exchange's pivotal and pre-eminent role in the development of the Indian capital market is widely recognized and its index, SENSEX, is tracked worldwide. Earlier an Association of Persons (AOP), the Exchange is now a corporatised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI). For more information, visit www.bseindia.com Kalyan S. Bose |
