PSU

PNB ENTERS INTO TIE-UPs WITH FOUR MUTUAL FUND ASSET MANAGEMENT COMPANIES

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PUNJAB NATIONAL BANK ENTERS INTO TIE-UPs WITH FOUR MUTUAL FUND ASSET MANAGEMENT COMPANIES (AMCs)

 

 

Delhi, July 27, 2017: Punjab National Bank, largest nationalized Bank announced its tie-up with four leading Mutual Fund AMCs (Asset Management Companies) viz LIC Mutual Fund AMC Ltd, Reliance Nippon Life AMC Ltd, Tata AMC Ltd and Birla Sun Life Mutual Fund.

 

Tie-ups will offer various investment opportunities to PNB’s more than 10 Crores customers in Equity Funds, Debt Funds, Liquid Funds and other Mutual Fund products.

 

Speaking on the occasion, Mr. Sunil Mehta, MD & CEO, Punjab National Bank, said PNB, India’s first swadeshi Bank has been front runner and always strived for customer centric approach with a goal of providing complete financial solution to our esteemed customers. Mutual Funds offer a platform to those customers who are hesitant for investing in the stock markets instruments directly & emphasized on creating awareness among Bank’s staff and Investors for informed selling.

 

Mutual Fund penetration in India is still very low and banks have played an important role in sale and distribution of these products through its Branches at every nook and corner of the Country. This engagement will increase the option for customers of PNB to choose from a bouquet of products.

 

The combination of distribution reach of the bank and comprehensive range of products provided by the AMCs will help in catering to the varying investment needs of our large and growing customer base who will gain the convenience of availing banking and mutual fund products under one roof, he added.

 

The Signing Ceremony was graced with the presence of Shri Sunil Mehta, MD & CEO, Shri K V Bhramhaji Rao, Dr. R S Sangapure & Shri Sanjiv Sharan, Executive Directors of Punjab National Bank and Shri Raj Kumar, CEO & Director of LIC Mutual Fund AMC Ltd, Shri Sanjiv Gudal, Sr. Vice President & Business Head, Reliance Nippon Life AMC Ltd., Ms. Kashmira Kalwachwala, Head Investor Services, Tata AMC Ltd., and Shri Anil Shyam, Co-Head Retail Sales, Birla Sun Life Mutual Fund.