Dhanlaxmi Bank plans to acquire 70% in a fund

Private sector lender Dhanlaxmi Bank plans to acquire about 70 per cent stake in a mutual fund, a top bank official said here on Thursday.

“We plan to acquire 70 per cent stake in an existing mutual fund and expect approval for the same from the Reserve Bank of India (RBI) by next week,” Dhanlakshmi Bank Managing Director and Chief Executive Officer Amitabh Chaturvedi told reporters on the sidelines of a press meet here.

Dhanlaxmi Bank has entered into a strategic alliance with Destimoney to launch its online broking service platform. Dhanlaxmi Bank has partnered Destimoney to offer its customers a 3-in-1 account, a service that bundles the features of savings, demat and online trading and investment accounts.