SBI launches upgraded online trading platform
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In a digital initiative by State Bank of India subsidiary SBICAP Securities launched an upgraded version of its online trading platform - sbismart.com on Friday. The new HTML5 platform will be accessible across all devices such as smart phones, tablets and desktops.
The platform also offers customers other products and services, such as home and car loans apart from guides and educational content for investors.
Speaking at the launch, SBI Chairman Arundhati Bhattacharya said that depth is needed in the retail market.
"Unless and until equity markets show more much retail depth, it is difficult for our economy itself to grow as much as it needs to."
SBI Bank account holders can register on the platform. Other bank account holders can trade on the platform by opening an SBI demat account.
Of the total 12 lakh clients, SBICAP Securities has 1.6 lakh active clients. Speaking on the sidelines, an SBI official said that currently there is an addition of 20,000-30,000 new accounts every month and post the merger of the associate banks this could go up to 40,000 new accounts a month.
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