Mahindra Asset Management Company, which has received Sebi's approval for setting up mutual fund business, looks to start operations within the next 3-4 months and will focus on rural and semi-urban markets where its non-bank lender parent Mahindra Finance has a strong presence.
"As we have received Sebi's approval to set up mutual fund business, we will shortly be applying for the individual products and the entire process may take 3-4 months for the company to become operational," Mahindra Finance Managing Director Ramesh Iyer told PTI.
Talking about the amount invested by Mahindra Finance in its newly floated MF arm, Iyer said, "We have already invested the regulatory requirement of Rs 50 crore."
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