Syndicate Bank to ink pact with firms for MFs

It also plans to launch ‘pre-paid gift cards

Syndicate Bank Executive Director M. Anjaneya Prasad addressing a media conference in Vijayawada on Friday. Photo: Raju.V

Syndicate Bank will enter into a Memorandum of Understanding with different companies for sale of mutual funds, said bank executive director M. Anjaneya Prasad.

Addressing mediapersons here on Friday, the ED said the Syndicate Bank would make agreements with Birla Sunlife, Reliance and other companies to sell their mutual funds.

Syndicate Bank was also planning to launch the sale of pre-paid gift cards for the customers. The bank has launched a ‘Synd Yuva’, a self-banking branch at Bangalore which was running successfully. It was proposing to open ‘Synd Yuva’ branches in Andhra Pradesh.