Kotak Mahindra MF in distribution tie-up with Central Bank of India

MUMBAI: Kotak Mahindra Asset Management Company has entered into a distribution tie-up with Central Bank of India, under which the latter will offer the entire bouquet of Kotak Mutual Fund products from the bank���s branches.

���The banking channel is one of the best platforms to reach out to retail investors. Offering advice on mutual fund investments is an extension of the value added services that are offered by banks. With this tie-up, customers will gain easy access to the various schemes of Kotak Mahindra AMC at the branches where they do their banking transactions,��� Sandesh Kirkire, Chief Executive Officer, Kotak Mahindra AMC, said on the occasion.

Central Bank of India General Manager, Mr G.P. Chitnis, said, ���In the Indian financial markets, mutual funds have established themselves and gained popularity amongst the retail investors. For us, this tie up will open up further opportunities to provide our vast client base with a wider choice of products to meet their diverse financial needs. It will also give a boost to bank���s fee-based income.���

Central Bank of India, over the past 98 years, has a network of more than 3,416 branches, 230 extension counters and 400 ATMs. It has brought 1,180 branches under Core Banking Platform and all other branches are computerized.

The bank���s present business is about Rs 197,000 crore and it will cross Rs 2 lakh crore shortly, Mr Chitnis said