UTI MF ties up with Punjab & Sind Bank

UTI Mutual Fund (UTI MF) today entered in a strategic tie-up with Punjab and Sind Bank for distribution of its schemes.

As per the understanding, Punjab and Sind Bank, which has been given a timeframe of two-three years by government to turn around, would offer the entire buoquet of UTI Mutual Fund schemes through its selected branches.

This, in turn, would enable the bank to increase its fee based income.

UTI AMC executive director D S R Murthy said the bank has a dominant presence in Delhi, Punjab, Haryana, Himachal, Jammu and Kashmir, western and Tarai belt of Uttar Pradesh, and Uttranachal and Ganganagar belt of Rajasthan, which happened to be important retail markets for it.

The bank's officer on special duty R P Singh said it would enable it to offer variegated services and products under one roof.