Banking

Karnataka Bank inks pact with HDFC Asset Management

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Private lender Karnataka Bank Ltd has entered into a distribution agreement with HDFC Asset Management Ltd (HDFCAML).

This pact will enable the bank to sell the mutual fund products of HDFCAML.

To initiate the process, Mahabaleswara MS, Managing Director and Chief Executive Officer of Karnataka Bank, and Rajiv Maniar, Senior Vice-President and Head – Sales (East and South), HDFCAML, exchanged the Memorandum of Understanding( MoU) in Mangaluru.

“The investment in mutual funds will provide an opportunity to those customers who are uncomfortable about investing directly in stock markets,” said Mahabaleswara MS, Managing Director and Chief Executive Officer of Karnataka Bank Ltd.

 “The tie-up will give HDFCAML an opportunity to expand its base in these centres,” said Rajiv Maniar, Senior Vice-President and Head – Sales (East and South), HDFCAML.

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