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Mumbai Feb. 4 3i Infotech announced its foray into the fund accounting and investor servicing domains for the mutual funds sector, as a part of its BPO offering. The company said it has set up two processing centres in Mumbai and Chennai at a consideration of Rs 50 crore to facilitate back office operations.

"We will provide processing capabilities to the mutual funds, which will enable them to concentrate on their core business functions," Mr V. Srinivasan, MD & CEO, 3i Infotech, said, adding that the company has already hired 200 people for these operations.

Smaller centres

The company intends to set up 300 smaller centres by March 2008. "These centres will enable data entry work and imaging of application forms," said Mr Srinivasan. Revenues from the new business will be coming in from March 2008 onwards, he added. The mutual fund BPO will be a separate unit and be headed by Mr M.S. Chandrashekar, earlier with Datacons.

More Stories on : Outsourcing | Mutual Funds

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