Allahabad Bank enters into tie-up for selling Mutual Fund Products

Allahabad Bank has announced that in order to increase the fee based income of the Bank and to meet the multiple needs of the customers, Bank has entered into tie-up arrangements with various Companies for cross selling and distribution of their products including Mutual Fund Products.

Recently Bank has entered into tie-up arrangement with Kotak Mahindra Asset Management Company Ltd and with Reliance Capital Asset Management Ltd for distribution of their products through Bank's Branches to augment the fee based income and to give customers a wide range of investment avenues for their surplus fund.

The stock closed the day at Rs.80.10, down by Rs.0.25 or 0.31%. The stock hit an intraday high of Rs.81.50 and low of Rs.80. The total traded quantity was 43495 compared to 2 week average of 76391.

Source : Equity Bulls

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