Financial Daily
from THE HINDU group of publications
Tuesday, July 04, 2000
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Financial Daily from THE HINDU group of publications Tuesday, July 04, 2000 |
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Payment gateway: Kotak Mahindra in talks with HDFC, ICICI
Our Bureau
MUMBAI, July 3
THE Kotak Mahindra AMC is in discussions with HDFC Bank and ICICI Bank to finalise a payment gateway module for the initiatives that it is taking to make transactions simpler and faster for its investors.
According to Mr. Shekhar Sathe, CEO of Kotak Mahindra Mutual Fund (KMMF), the initiatives would include direct credit facility to investor and net-based transactions.
KMMF is taking steps along with its registrar CAMS to improve turnaround time in transactions related to collections and redemptions, a press release said.
The AMC is considering the launch of two new schemes in the near future, which will be equity funds, focussing on old economy stocks and the emerging media sector.
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