Allahabad Bank ties up with Franklin Templeton to distribute MFs

Kolkata, Jul 12 (UNI) Allahabad Bank, a leading public sector bank, is in talks with various Mutual Fund companies to sell MF and other products through its retail network, bank CMD A.C.Mahajan said.

The bank today signed a Memorandum of Understanding (MoU) with Franklin Templeton Investments India for distribution of Mutual Fund products.

Franklin Templeton India President Vivek Kudva said the tie up with the bank would help spread its retail investors across the country.

''As a third party player, we earned Rs 13 crore as commission.

We have set a target of Rs 130 crore in the current fiscal,'' he said.

Allahabad Bank has more than 2107 branches all over the country.

UNI