Customers can apply for Motilal Oswal trading account online

Applying online for a trading account also gives the applicant instant access to My MotilalOswal–a Motilal Oswal feature that offers clients a personalised web experience, based on their unique needs

Motilal Oswal has launched a new feature on its website–a facility to open broking account online. This feature enables prospective customers to apply for Motilal Oswal broking account online by filling up an e-form at their own convenience. The customers can log on to this feature by clicking on to ‘Open an Account Online’ button in www.motilaloswal.com.

Being a part of the main website, www.motilaloswal.com, the prospects can read through the company details like the company background, research reports, its offerings and products & services, before they choose to open a trading account online. The process of applying for a trading account of Motilal Oswal online is quite easy and convenient–fill up the application form, make an online payment as per the scheme details and submit the form electronically. Being a fully secured payment gateway, this facility allows the customers to apply from any place at any time. Post application online, they can keep a track on the application status themselves. Applying online for a trading account also gives the applicant instant access to My MotilalOswal–a Motilal Oswal feature that offers clients a personalized web experience, based on their unique needs.

This feature of opening a trading account online is targeted especially towards technology savvy retail clients who are comfortable with using internet to buy products & services online. Motilal Oswal has launched this across 19 cities.

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Bharti Walmart, Bharti Retail tie up with MoneyGram Intl

The service has been rolled out at 121 ‘easyday’ and 11 ‘easyday Market’ stores operated by Bharti Retail

Bharti Walmart and Bharti Retail have launched MoneyGram International’s money transfer service at their stores in association with Thomas Cook India.

The service has been rolled out at 121 ‘easyday’ and 11 ‘easyday Market’ stores operated by Bharti Retail across India and at six ‘Best Price Modern’ wholesale stores run by Bharti Walmart, the 50:50 joint venture venture between Bharti Enterprises and Wal-Mart Stores Inc.

Thomas Cook is a principal agent of Moneygram International in India.

“At Bharti Walmart, it is our endeavour to help people save money and the launch of convenient money transfer service through our stores brings us a step closer to achieving that,” Bharti Walmart managing director and CEO Raj Jain said.

As per RBI guidelines, Indian nationals can draw up to Rs50,000 in cash through the service after showing valid identity documents. For transactions above Rs50,000, they will be provided a cheque.

Foreign nationals can also avail of the service for up to $2,500.

“The tie-up will help Moneygram expand its footprint in India and increase the brand awareness,” Moneygram International executive vice-president Dan O'Malley said.

Currently, Moneygram services are available across 30,000 locations across India.

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PNB to finalise life insurance partner by June

If PNB picks up stake in any life insurer, either domestic or overseas partner will have to dilute stake in the insurance firm

Public sector lender, Punjab National Bank (PNB), intends to finalise the partner for its life insurance foray by June.

“We hope to finalise the partner this quarter,” Punjab National Bank chairman and managing director KR Kamath told PTI. The bank shortlisted 10 entities from 41 and further it was narrowed down to three, he said.

The three shortlisted life insurers include Bharti AXA, Aviva and Metlife.

The bank will finalise the partner for life insurance business based on the evaluation of the proposals submitted by these insurance companies, he said.

If PNB picks up stake in any life insurer, either domestic or overseas partner will have to dilute stake in the insurance firm.

Aviva India is 74:26% joint venture between FMCG player Dabur India and UK-based Aviva Plc while Bharti AXA Life Insurance is joint venture between Bharti Enterprises and AXA of France.

Metlife India stakeholders include Jammu and Kashmir Bank, Shapoorji Pallonji and other investors besides Metlife of the US.

Last year, PNB announced its plans for a strategic partnership with an insurance player. The bank had said it has decided to participate in the life insurance venture through “a corporate agency tie-up along with equity participation in an existing Indian life insurance company”.

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