Standard Chartered launches ‘3-in-1 Account’ to provide NRIs unified access point to Indian markets

Press release

Published April 3rd, 2012 - 08:19 GMT

Al Bawaba

Standard Chartered has announced that it has recently launched the NRI 3-in-1 Account, a complete investment solution for non-resident Indians (NRI) to access Indian investment markets. Indian investors collectively account for the third highest investor base in the world with over 20 million investors.

Standard Chartered’s NRI 3-in-1 Account is an efficient combination of Non Resident Bank accounts, including Portfolio Investment Services (PIS), with respective Demat and Brokerage Accounts. The new service creates a single login facility for bank, trading and depository account, and also provides unified online access to cash equities, IPOs, bonds, debentures, mutual funds and derivatives (Futures & Options).

Sumeet Bhambri, Regional Head - Wealth Management (Middle East) said: “There is tremendous potential for NRIs to enhance their participation in the Indian markets and we are providing the right platform to bridge the gap between NRIs and various investment products in India. The NRI 3-in-1 Account allows NRIs to access multiple products with transactional ease and convenience, while complying with complex NRI regulations. The new investment solution is in line with our continuing thrust to provide personalized services that cater to the changing needs of our customers wherever they are.”

Standard Chartered’s NRI 3-in-1 Account also provides online portfolio monitoring, online access to Consumer Equity Strategy Reports, online details on holdings and transactions, and multiple channels for execution of trades, including dedicated RM, online trading portal and the customer care unit. Customers can also choose from two online trading platforms: Easy Trade, which is the user-friendly browser version, and Advance Trade, which is the applet-based version.

Standard Chartered has been operating in the UAE since 1958 and has the largest distribution network with 11 branches, 130 ATMs and CDMs and four electronic Banking Units across the country.

Background Information

Standard Chartered Bank

We offer banking services that help people and companies to succeed, creating wealth and growth across our markets. Our heritage and values are expressed in our brand promise – Here for good.

With more than 86,000 employees and a presence in 60 markets, our network serves customers in close to 150 markets worldwide. We're listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.