Allahabad Bank to sell entire gamut of Reliance Mutual Funds

New Delhi, June 15 (UNI) Allahabad Bank today entered into an alliance with Reliance Mutual Funds for selling the entire range of its Mutual Fund products in the bank with a Memorandum of Understanding (MoU) to this effect being signed by the two companies today.

According to the agreement, Allahabad Bank will sell the entire bouquet of Reliance Mutual Funds across all 2,098 branches of Allahabad Bank, a company statement said.

Allahabad Bank will deploy a sales team of trained personnel for selling these products, the statement added.

Currently, Reliance Mutual Fund offers 28 schemes - comprising 13 equity-oriented schemes and 15 debt-oriented schemes.

''Allahabad Bank, with its nationwide sales network and expertise in para-banking, provides an ideal platform to extend our reach across the country. This is part of our endeavor to deliver quality products, at a reasonable price, to the customer's doorstep,'' said Chief Executive Officer, Reliance Capital Asset Management Ltd Vikrant Gugnani.

UNI