Reliance MF in distribution tie-up with IOB
Mumbai: Reliance Mutual Fund, a part of Reliance Capital, on Thursday said it has entered into a distribution tie-up with Indian Overseas Bank (IOB).
As per the agreement, IOB will sell Reliance MF products through its 2,689 branches.
"This agreement would help us expand our customer base, especially in tier II and III cities, leveraging on the wide network of the bank," Reliance Capital Asset Management chief executive Sundeep Sikka said adding this tie-up will help the company reach around 24 million customers of IOB.
Referring to the distribution tie-up, IOB chairman and managing director M Narendra said, "this would enable the bank to operate as a financial super market and help in strengthening the relationship of the existing and potential customer base, providing an opportunity to cross-sell."
Reliance MF manages around Rs 1,40,000 crore across MFs, government, government-sponsored public funds, managed accounts and hedge funds.
More from India
More from World
More from Sports
More from Entertaiment
- Cortana for Android available for public beta in US
- Xiaomi Redmi 2 Vs Redmi 2 Prime: Specification comparisons
- Middle class woes to continue, wholesale onion price shoots up to Rs 57 per kg
- Alleged land encroachment in Greater Noida: HC asks DM to decide representation in 3 months
- Watch: Review of Mahindra TUV300