BoI in pact with Birla Sun Life for MF distribution

MUMBAI: Public-sector lender, Bank of India has entered into a tie up with Birla Sun Life mutual fund for the distribution of mutual funds products.

The bank has signed a memorandum of agreement with Birla Sun Life to use its 3,100 branches to distribute the latter's MF products, it said in a press release.

"For varied investors need, our branches will be able to provide a bouquet of products, offered by different mutual fund companies, suited to cater different segments of investors' community," Bank of India Executive Director M Narendra said.

BoI presently offers facilities like electronic enabled bio-metric smart card and mobile ATM to serve the rural customers.

"Sale of Mutual Fund products through Bank's Branches will be additional avenues to enable rural masses to participate in the buoyant stock market," Narendra said.

BoI has a customer base of over 3.4 crore and a business mix of above Rs 3,62,000 crore.