HDFC MF has announced tie-up with Shamrao Vithal Co-op Bank

By Pradeep Yuvaraj | August 3, 2011

A recent press report said that HDFC Mutual Fund, one of the leading Mutual Fund House in India, and Shamrao Vithal Bank (“SVB”), one of the largest co-operative banks in India, have announced that they have entered into an alliance to offer the entire bouquet of HDFC Mutual Fund’s schemes through the bank’s 105 branches in 7 states across the country.

Mr. Shrinivas D. Joshi, Chief Executive Officer, SVB said that tie-up would go a long way in further strengthening the bond with its customers by offering them superior investment option in HDFC AMC’s mutual fund schemes.

He said that the bank has a full-fledged department to handle third party products [TPP] which is an independent contributor to the Bank’s bottom-line and the tie-up with HDFC AMC would add more robustness to the bank’s TPP business. SVB is well known for the various loan schemes; its home loan is called “”Good Homz” which does not emphasize on collateral or guarantor.
Mr. Kiran Kaushik, Sr. Vice-President and Head – Sales and Distribution, HDFC Asset Management Co. Limited said that the tie-up will give the company an opportunity to tap customers across the bank’s extensive network in 7 states and further strengthen our position in the market. At the same time, it will also offer SVB customers an easy access to reliable investment products.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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