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Non-Tech : ICICI Ltd - (Nyse: IC)

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To: Mohan Marette who wrote (383)	3/15/2000 12:13:00 PM
From: Mohan Marette	Read Replies (2) of 494

HDFC to consider e-broking through an affiliate hdfcbank.com hdfcindia.com 15-03-2000 21:03:13 The board of directors of HDFC Bank Ltd will meet on March 29, 2000 to consider the launch of e-broking through an affiliate, the Bombay Stock Exchange (BSE) said today. "The board of directors at their meeting proposed to be held on March 29 shall consider launching e-broking and other related business through new affiliate company...," BSE said quoting a HDFC Bank notice. The meeting will also consider investment in equity shares of the affiliate company "along with Housing Development Finance Corporation Ltd (HDFC) and others", it said. Aditya Puri, Managing Director of HDFC Bank, had told India Infoline last month that the bank was finalizing its e-broking strategy. "We will either tie-up with a brokerage house or take up membership in a stock exchange and allow our customers to broke through us. We are also looking at the broker?s plaza that NSE is setting up. We are well positioned to offer these services to our customers as we are a depository participant also. Since we are a strong player in the mutual funds segment, we can allow our customers to leverage their fund balances, too," Puri had said. -Probity

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