Muthoot Finance to buy IDBI Bank’s MF business

Gold loan financier Muthoot Finance Ltd is in advanced stages of acquiring IDBI Asset Management Ltd, the mutual fund unit of Life Insurance Corp. of India (LIC)-owned private sector lender IDBI Bank Ltd, three people aware of the development said. “The deal is expected to close this week. Initially, the binding offers had come in from Muthoot Finance and Vikas […]

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Karnataka Bank inks pact for MF business

Karnataka Bank has entered into an agreement with fintech company Finwizard Technology (known as ‘fisdom’) to offer wealth management products and services to customers, beginning with mutual funds, through the bank’s ‘KBL Mobile Plus’ app. The ‘KBL Mobile Plus’ app will offer enhanced interface to help customers navigate and choose the best-suited funds. Mahabaleshwara MS, […]

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A single MF folio nomination can have multiple nominees

iStockPhoto How can I change a nominee? —Rakesh Poddar Every mutual fund (MF) has a nomination change form. When you fill and submit it, the previous nomination information will be overwritten by the new one. This means that at any time, there can be only one nomination instruction for a folio. If the folio has […]

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