Federal Bank, the Indian Banking major in the private sector, entered into a strategic partnership with Phillip Capital (India) Pvt. Ltd, a subsidiary of the Singapore headquartered Phillip Capital group, for managing NRI Portfolio Investment Scheme (PIS). Mr. Shyam Srinivasan, MD & CEO, Federal Bank and Mr. Lim Hua Min, Chairman of Phillip Capital Group, Singapore exchanged the MoU announcing the tie-up.
PIS is a route designated by the Reserve Bank of India for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) to invest in Indian Equity Markets for purchase of shares and convertible debentures listed on registered stock exchanges in India. Phillip Capital is an integrated financial house with a global presence that offers a full range of quality and innovative services to retail, corporate and institutional customers.
The tie-up with its Indian subsidiary will thus be a significant value-add to the NRI clientele of Federal Bank, particularly those in the non-GCC countries, who can now avail PIS using the wide global network of Phillip Capital and their experience and expertise in providing consistent and world-class customer service.
1. Persons of Indian Origin (PIOs)
2. Shyam Srinivasan MD & CEO – Federal Bank
3. Lim Hua Min Chairman of Phillip Capital Group – Singapore
4. Portfolio Investment Scheme (PIS)
So lets do:
1. Who is the MD & CEO of Federal Bank?
2. Expand the PIOs, PIS and NRIs?
3. Federal Bank entered into a strategic partnership with _______________ .
Source – The Hindu