Reliance MF Ties Up With Two Banks For Product Distribution

Anil Ambani group firm Reliance Mutual Fund today said it has entered into an agreement with the United Bank of India and State Bank of Saurashtra for distribution of its products.

Under the agreement, the banks would sell Reliance MF's products through their specified branches, the company said in a statement.

"We are happy to announce these tie-ups that will help us fulfill our long-term leadership goal of reaching out to a large number of prospective customers," Reliance MF CEO Vikrant Gugnani said.

To sell these MFs, UBI has designated 160 branches (of a total of 1,370 branches), while SBS would sell through 150 branches (of a total of 470 branches).

Reliance Mutual Fund is the country's largest fund house with the business managing a corpus of over Rs 79,973 crore, with over four million investors