Central Bank of India ties up with Franklin Templeton

Mumbai, May 15 (UNI) Central Bank of India today signed a Memorandum of Understanding (MoU) with private sector fund house Franklin Templeton Investments for the distribution of its financial products.

This is the third tie-up that the PSU bank has entered for distribution of such products. The bank has such agreements with UTI and TATA Finance.

On the first day of the signing of the agreement with Franklin Templeton, IDFC (Rs 13.50 crore), Hindalco (Rs 1 crore) and Godrej Finance (Rs 5 crore) made their initial investments.

''In the Indian financial markets, mutual funds are rapidly gaining ground among retail investors due to various advantages such as professional management, diversification, and liquidity. This tie-up will open up further opportunities to provide our vast client base with wider choice of products to meet their diverse financial needs,'' bank CMD H A Daruwalla said.

UNI