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LIC Mutual Fund Asset Management Company has inked a tie-up with Cosmos Co-operative Bank for distribution of its mutual fund products through the bank’s 140 branches across India.
Sarojini Dikhale, CEO, LIC Mutual Fund AMC said in a statement, “We are delighted to partner with Cosmos Bank, one of the leading co-operative banks in distributing our products to its customers. The combination of our comprehensive range of products catering to the varying investment needs of investors and the distribution reach of the bank would create a great convenience to the bank’s customers.”
Vikrant Ponkshe, Managing Director and CEO, Cosmos Bank added, “This would be a forward looking step for the bank to provide a complete financial solution to our customers. Mutual Fund penetration in India is still very low and banks have played an important role in selling these products to the masses. This engagement increases the option for our customers to choose from a bouquet of financial solutions.”
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