Financial Daily from THE HINDU group of publications
Thursday, Jan 26, 2006


News
Features
Stocks
Shipping
Archives
Google

Group Sites

Money & Banking - Private Banks
Markets - Mutual Funds
Marketing - Channels and Franchises


Federal Bank in tie-up with Kotak Mahindra MF

Our Bureau

Kochi , Jan. 25

KOTAK Mahindra Mutual Fund has entered into a strategic tie-up with Federal Bank for distribution of Kotak Mahindra MF schemes.

An agreement in this regard has been signed between Mr Sandesh Kirkire, CEO of Kotak Mutual Fund, and Mr M.M. Antony, General Manager (Planning), Federal Bank, here on Wednesday. Under this agreement, the Federal Bank will offer the entire bouquet of Kotak Mahindra Mutual Fund schemes across its 456 branches in 23 states in the country.

Speaking on the occasion, Mr Kirkire said that banks are one of the most important distributors of mutual funds in the country and are best poised to expand the market. However, he pointed out that Kerala's exposure to capital market is less than Rs 1,000 crore compared with Rs 2 lakh crore of the entire country.

The State, he said, is financially illiterate and there is a huge potential for providing various kinds of financial services in the State. As per the figures available, he said that only less than 5 per cent of the population in India has the exposure in the capital market. On the other hand, they have Rs 20 lakh crore deposits in banks and Rs 5 lakh crore in post office savings, he added.

More Stories on : Private Banks | Mutual Funds | Channels and Franchises

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
FPSB plans to certify 50,000 financial planners


Rupee gains; call rates cross 8 pc
Indian Bank ties up with PNB Principal companies — Q3 net rises 65 pc to Rs 123 cr
IOB net up 22 pc in Q3 on rise in advances, deposits
NBFC licence cancelled
Muthoot Fin's new schemes
ICICI PruLife premium up 76 pc at Rs 588 cr
Corporation Bank signs pact for SME rating
Foreign, pvt banks staff can now blow the whistle — RBI issues norms for `Protected Disclosure Scheme'
Banks allowed to raise capital through innovative instruments
Federal Bank in tie-up with Kotak Mahindra MF
CSB scheme for students
Pref. shares may change banking landscape
PNB signs pact with SIDBI
Finmart helps Dena Bank grow retail portfolio
RBI cancels T-bill auction



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line