Reliance Mutual Fund expands footprint in UAE

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New Delhi, Jul 3 (UNI) Reliance Mutual Fund (RMF) today joined hands with Bank of Baroda (BoB) in the UAE for the distribution of its schemes through their branches in the Gulf Co-operative Council (GCC) region.

''Post-agreement, RMF will see an increase in number of distributors across six branches in the UAE and three in Oman where Bank of Baroda has its presence,'' Reliance Mutual Fund Deputy CEO Sundeep Sikka said in a statement.

''Changing investment habits has now turned our attention towards quality distribution...The pie is widening and hence the decision to tie-up with Bank of Baroda to ensure we reach all our customers,'' Mr Sikka said.

The deal was signed by Mr Sikka with Mr Ashok Gupta, CEO, Bank of Baroda, UAE and GCC region.

In the UAE, Bank of Baroda is the only Indian Bank having full fledged banking operations, with six branches, which includes Dubai (two branches), Abu Dhabi, Sharjah, Ras-Al-Khaimah and Al Ain.

They also have two customer service centres at Jebel Ali and Mussafah. In Oman, BoB has three branches.

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