Date:03/06/2006 URL: http://www.thehindubusinessline.com/2006/06/03/stories/2006060302150600.htm

Back Kotak Mahindra MF, UCO Bank pact

Our Bureau

Kolkata, June 2

Kotak Mahindra MF has signed an MoU with the Kolkata-based UCO Bank for distribution of its products. The fund house hopes to tap the bank's network, said Mr Sandesh Kirkire, CEO. The tie-up will be across all branches of UCO Bank. For the latter, the latest arrangement is the sixth of its kind, said Mr S. Bhatt, Executive Director.

The bank, which earned about Rs 50 lakh last year by way of MF sales commissions, is looking at an earning of Rs 2 crore on this front this fiscal, he added.