Tata Mutual Fund signs mrk accord with Central Bank

Mumbai, Dec 21: Tata Mutual Fund today signed a Marketing Agreement with the Central Bank of India(CBI), one of India's well established and respected public sector banks for distributing its Mutual Funds nationally.

As per the agreement, CBI will distribute Tata Mutual Fund's various schemes, through only 300 branches spread across the country.

Addressing the media on this occasion, CBI MD and Chairperson Ms H A Daruwalla said,''Central Bank of India is one of the leading commercial banks under public sector. It has a strong network of 3,168 branches spread across the country. Central Bank and house of Tatas have a historical relationship. With a view to offer all the financial products under one roof, the Bank has tied up with Life Insurance Corporation of India and The New India Assurance Co Ltd for selling life and non-life insurance products respectively, in all the branches.''

''The Bank is selling the products of UTI Mutual Fund and today, being our Foundation Day, we are happy to enter into a partnership with Tata Mutual Fund for distribution of their mutual fund products through our vast network of branches. We hope this relationship will grow from strength to strenth in the days to come.'' About the strategic distribution tie up with CBI, Tata Asset Management Ltd MD Ved Prakash Chaturvedi,''This is a unique opportunity for us to serve a large number of investors to enhance the long term yield on their saving.''

UNI