Karnataka Bank, Mangalore-based private sector lender, has entered into distribution agreement to sell mutual fund products of Reliance Capital Asset Management (RCAML) through the branches of the bank with effect from February 12, 2013.
This distribution tie-up will be beneficial to both as the asset management company will be able to tap the bank’s customer and the private lender will be able to earn fee based income.
Karnataka Bank is an old private sector bank which was set up in 1924. The bank had 510 branches and 409 ATMs spread across 20 states and 2 UTs across the country. Majority of the branch network is in the state of Karnataka.
