Bank promoted stock brokers means the bank in India who recommend investment with their associated stock brokers. Investment in financial instruments like commodities, mutual funds, IPO, and currencies.
I receive much inquiry through readers of ShareGyaan which bank is best to open a DEMAT account for share trading. So after a long time, I have decided to write this article which will help you in choosing a bank for share trading and investment.
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Types of the Bank Promoted Stock Brokers in India:
- Wholly Owned Subsidiary of Bank
- Associated with Leading Stock Broker
Present day’s both Government and Private Banks provide an online trading facility to their clients either directly through its subsidiary or Through in association with leading Stock Broker.
1. Wholly Owned Subsidiary of Bank
Wholly owned subsidiary means parent company retain maximum control, and also with all the costs and risks of full ownership. This arrangement has mainly used by the banks who want to keep complete control of their child organization.
List of Bank Share Brokers which is wholly owned subsidiary of Bank.
Public Sector Banks:
- BOB Capital Markets Ltd.
- Canara Bank Securities Ltd.
- Indbank Merchant Banking Services Ltd.
- SBI CAP Securities
- IDBI Direct
Private Sector Banks:
- Axis Direct
- HDFC Securities
- ICICI Direct
- Kotak securities
- Yes Securities
2. Associated with Leading Stock Broker
In this, a Bank provides a trading Account for trading in the stock market through the third party (Leading Stock Broker).
DEMAT Account and Saving Account are provided by the banks itself. Therefore you can get your holding details from your Bank but to trade in the stock market you need to access the third party which is associated with the Bank.
Public Sector Banks:
- Central Bank of India is Associated with Angel Broking.
- Punjab National Bank is Associated with SMC, Networth, and IDBI Capital Market Services Ltd.
- UCO Bank is Associated with Religare Securities Ltd.
- Union Bank of India is Associated with Sharekhan, Emkay, Religare & IDBI
Private Sector Banks:
- CITY UNION BANK is Associated with Geojit BNP
- Dhanlakshmi is Associated with Destimoney
- Federal Bank is Associated with Geojit BNP
- IndusInd Bank is Associated with Upstox
- South Indian Bank Associated with Geojit BNP
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Top 10 Bank Promoted Share Brokers In India
| S.No. | STOCK BROKERS | ACTIVE CLIENTS |
| 1 | ICICI Direct | 10,75,956 |
| 2 | HDFC Securities | 7,20,150 |
| 3 | Kotak Securities | 5,71,806 |
| 4 | Axis Securities | 2,70,462 |
| 5 | SBICAP Securities | 2,49,924 |
| 6 | IDBI Capital | 51,591 |
| 7 | Yes Securities | 13,404 |
| 8 | Canara Bank Securities | 10,855 |
| 9 | Indbank Merchant Banking Services Ltd. | 6,544 |
| 10 | BOB Capital | 5,295 |
hello sir, i am a btech student and i want to start trading because i want to gift a car to my father .. and i do have interest in making money … my father is having his account in angel broking but i wanted to ask that i should go with which company…
i dont have much knowledge about this but i hope you will help me..
thank you
Thanks for share informative post here..I’m also dummies.
Hello, We , Sushsil Finance is the one of the oldest broking in india and has spread good pan india presence over 32 years. We are best known for or Research performance call and are popular among our client network. here i would like to know weather you can interested into some kind of barter on marketing and promotion.
mr.sujit kumar I have read your blog & get impresed I request to give suggesion which shares to buy or when the gold mini to buy or sale