New Delhi: Allahabad Bank, a leading public sector bank has signed an MoU with Franklin Templeton Investments (India), for distributing its mutual fund products through its 2107 branches across the country.
Mr Vivek Kudva, President, Franklin Templeton India and Mr AC Mahajan, CMD, Allahabad Bank, signed the MoU and reaffirmed their commitment towards creating a basket of services that could enable their valued customers to make holistic financial solutions.
Templeton India aims to reach out to a larger number of retail investors and this tie-up offers the way forward for the Indian mutual fund industry to attain the critical mass necessary for growth.
He is convinced that the coming months will see a larger proportion of household savings finding their way into mutual funds. He hopes to develop a new user base of customers who were so far not accessing their investment products.