Indian Overseas Bank (IOB) has entered into a distribution tie-up with Reliance Mutual Fund, a part of Reliance Capital whereby the bank will sell Reliance MF products through its 2,689 branches.
This agreement will provide the bank an opportunity to cross-sell thereby enabling it to operate as a financial super market and help in strengthening the relationship of the existing and potential customer base.
Besides, leveraging on the wide network of the bank, this agreement will help the asset management company to expand its customer base, especially in TIER II and III cities.
Reliance MF manages around Rs 1,40,000 crore across MFs, government, government-sponsored public funds, managed accounts and hedge funds.
