IDBI Bank-IDBI Cap Markets to set up MF arm

IDBI Bank-IDBI Cap Markets to set up MF arm

BS Reporter / Mumbai June 14, 2007

IDBI Bank will form a mutual fund subsidiary with IDBI Capital Markets, its wholly-owned subsidiary, once its proposed life insurance venture gets off the ground.

The bank will have a 65% stake in the asset management company (AMC) with IDBI Capital holding the remaining share, according to a senior IDBI official.

The bank