LIC Mutual Fund AMC announced its tie-up with Corporation Bank for distribution of its mutual fund products.
In a press release, Sarojini Dikhale, CEO of LIC MF said “We are delighted to partner with one of the leading and forward looking nationalized banks; Corporation Bank for their support in distributing our products across their branch offices spread across PAN - India. The combination of our comprehensive range of products catering to the varying investment needs of investors and the distribution reach of the bank would create a great convenience to the investors. We are very happy to embark on this relationship and look forward to a long and mutually engaging association”.
Jai Kumar Garg, Managing Director & CEO of Corporation Bank said “We are very excited with this opportunity. Mutual Fund penetration in India is still very low and banks have played an important role in selling these products to the mass. This engagement increases the option for our customers to choose from a bouquet of products, given our wide network and geographical reach”.
Jai Kumar Garg, Managing Director & CEO of Corporation Bank and Rajesh Patwardhan Chief Marketing Officer, LIC Mutual Fund exchanged the distribution agreement for distributing LIC MF products on 22nd August, 2016 at the Bank’s Corporate Office at Mangalore.
