Religare, one of the leading integrated financial services institutions in India, and Andhra Bank, a well known Public Sector Bank in the country, have entered into a strategic tie-up offering Religare's internet trading services platform to the lender's customers.

The partnership is a step forward to further strengthen the "Bancinvest" Channel created by Religare, which already includes tie-ups with IndusInd Bank, Tamilnad Mercantile Bank, Corporation Bank, Bank of Rajasthan and Karur Vysya Bank.

The latest alliance is considered as Religare's strategy of increasing its reach and penetration across the country. 

The internet trading facility or online trading service, as it is called, will be part of the value-added offering for the bank's saving account customers, offering them a savings and a DP account from the Bank along with an internet trading account, powered by Religare.

The shares of Religare closed today at Rs 423, while scrip of Andhra Bank settled at Rs 90 on BSE.