Franklin Templeton ties up with Bank of Maharashtra

Kolkata, Oct 5 (UNI) Franklin Templeton investments (India), one of the largest fund houses in the country, has signed a memorandum of Understanding (MOU) with Bank of Maharashtra for distribution of its products.

President of Franklin Templeton India Vivek Kudva and Bank of Maharashtra's Chairman cum Managing Director MD Mallya, Chairman signed the MOU.

Mr Mallya said " The signing of this distribution alliance with Franklin Templeton investments is part of our initiativge to leverage on our extensive network to expand our retail business, helping us offer a comprehensive range of financial products to our customers. We are confident that the distribution of mutual fund products will make a signifacant contribution to our fee income in the coming years." Expressing his views on the alliance, Mr Kudva said, " The MF distribution landscape has undergone considerable change with the banking channel gaining market share. We see this channel as key to expanding the reach of the MF industry to semi-urban and rural areas" UNI PC RD2134