News Roll
Kotak Securities’
new intraday
trading package
Fino Payments Bank
to raise `300 crore for
digital expansion
Brokerage firm Kotak Securities
(KSL) has launched a new product
that will allow investors to participate
in intraday trading across cash,
future and options segments for an
annual subscription fee of `999. The
new product, called ‘Free Intraday
Trading’, is aimed at providing
“freedom from brokerages”–or
charges that investors have to pay
to brokerages per trade. The move
is expected to double its customer
base in 18 months, according to a
company release.
One of the perks of the
subscription is that investors will
get free access to Kotak Securities’
research and technology platform
for carrying out trade transactions.
F
ino Payments Bank has launched a slew of products to make digital
transactions online and through mobile phones. The payments
bank has also announced plans to raise `300 crore by September this
year to fund its expansion.
The five new digital initiatives include Unified Payments Interface
(UPI), BHIM app through which customers can access UPI to make
P2P payments, net banking and digi savings account, which can be
opened with an Aadhaar number and PAN card, as well as FasTag for
making digital payments at toll plazas on national highways.
According to Rishi Gupta, managing director and chief executive
officer, Fino Payments Bank, the latest initiatives will enable customers
to engage in self-service payments with ease. “We have already seen
significant adoption of two key digital assets, Rupay debit cards and
BPay mobile banking app. While 70 per cent of our customers are
digitally active, 40 per cent of the CASA (current account and savings
account) throughput is through these digital assets,” Gupta said.
Fino has tie-ups with ICICI Bank, ICICI Prudential Life Insurance,
ICICI Lombard General Insurance and ExideLife Insurance to cross-
sell loans and insurance products.
At present, Fino Payments Bank has a d