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Tamilnad Mercantile Bank has inked an agreement with HDFC Asset Management Company for marketing the latter's mutual fund products through select authorised branches of the bank.
The Memorandum of Understanding was signed on May 30 in Mumbai.
TMB's General Manager, Business Development Mr S Selvan Rajadurai said the bank has already tied-up with five leading mutual fund companies, such as ICICI Prudential Mutual Fund, UTI Mutual Fund, Reliance Mutual Fund, Franklin Templeton Investments and Birla Sun Life Mutual Fund, for selling their products through its branch network.
The exercise is aimed at meeting customers' investment needs under one roof, he said.
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