IDFC MF in strategic tie-up with Bank of India

IDFC Mutual Fund and Bank of India have entered into a strategic alliance to distribute and market mutual fund products of IDFC through Bank of India's branches.

An MoU to this effect was signed by Naval Bir Kumar, CEO, IDFC Mutual Fund, and M Narendra, Executive Director, Bank of India, a press release issued here today said. "We are positive that this tie-up will give us an opportunity to tap the huge customer base of Bank of India," Kumar said.

Meanwhile, Narendra said that the bank is committed to become a financial super-market providing diverse financial products under one roof to its customers. "For Bank of India, it will be one more product to shore-up fee-based income," he said.