BSE and Federal Bank join hands to promote listing of SMEs & Startups
Mumbai, 23rdMarch, 2022: BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, signed an MoU with Federal Bank, a leading private sector Bank to promote listing of SMEs & Startups on the BSE, SME & Startup platform. The Bank and BSE shall evaluate SMEs and Startups undergoing listing process.
Commenting on the association, Shri Ajay Thakur, Head – BSE, SME & Startups, said “We are excited to partner with Federal Bank and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing. It is yet another step in our endeavour to further penetrate the SME and Startup ecosystem and provide them the platform for equity financing.”
Commenting on the association, Shri Harsh Dugar, Group President & Country Head – Federal Bank, Wholesale Banking- Corporate & Institutional Banking said “We are delighted to partner with BSE on the SME and startups space. As one of India's foremost tech-led banks, this is an area of sharp focus for us. Our full-stack product suite and our deep understanding of this sector makes us a banker of choice to the SME ecosystem, and we are confident of significant synergies that both our institutions can derive from this partnership.”
Till date 364 SMEs have listed on the BSE SME platform and 14 companies have listed on BSE Startups platform.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE STAR MF which is India largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil, Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
About Federal Bank
Federal Bank is a leading Indian private sector bank with a network of 1,291 banking outlets and 1,882 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at Rs. 3.16 Lakh Crore as on December 31, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.37% as on 31st December 2021. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve center for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.
Federal Bank enjoys a share of 19.23% of the total NR remittance coming to India. Asset quality of the Bank is one amongst the best in the industry with GNPA at 3.06% and NNPA at 1.05% respectively. Federal Bank caters to more than 11 million customers across the world. More than 90% of the Bank’s deposits are granular in nature. Bank has a CASA ratio of 36.68%. Federal Bank believes in the mantra ‘Digital at the fore and Human at the Core’ and has rolled out a series of digital products. 88.30% of total transactions are now Digital in the Bank.
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