Bank of India ties up with UTI MF

Mumbai, August 03 (UNI) Bank of India (BOI) today entered into a strategic tie-up with UTI Mutual Fund to launch a micro pension initiative. Under the initiative, members of the self help groups (SHG) maintaining accounts with Bank of India, which will act as an aggregator, will contribute a minimum amount of Rs 100 per month towards UTI-Retirement Benefit Pension Fund (UTI-RBPF) until they reach the age of 55 years. It will enable them to receive the pension in the form of periodical income cash flow once they turn 58.

Briefing the media on the occasion, BOI CMD, M Balachandran, said