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SBI MF looking for new ad agency

Purvita Chatterjee

Mumbai , Feb. 26

SBI Mutual Fund is looking for a new advertising agency to handle its account. The company has already initiated the pitching process. Bates India, which currently handles its advertising account, is also participating.

Speaking to Business Line, Mr N.R. Ramakrishnan, General Manager, Marketing, SBI Mutual, said, "We do these pitches on an annual basis and there are about 8-9 agencies pitching for our account this time."

Carrying the baseline, `Partner for Life' SBI Mutual is already advertising across media including a running television commercial.

"The size of our account varies depending upon the business," added Mr Ramakrishnan without revealing the size of the ad budget of the company this year.

Last year in April, the advertising account of SBI Mutual Fund moved from Euro RSCG to Bates India.

"We should be out with the name of our advertising agency before the beginning of the next financial year," said Mr Ramakrishnan. In the last fiscal, SBI Mutual Fund's advertising budget went up to nearly Rs 6 crore. According to industry observers, the current bull run on the stock markets have led mutual fund companies to enhance their image in the market with the help of their ad agencies.

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