mydigitalfc.com:
Mumbai-based financial services firm India Infoline expects to start its mutual fund (MF) business in the April-June next year, a top executive said on Thursday.
On November 4, 2008, India Infoline announced that it had received in-principal approval from the Securities and Exchange Board of India (Sebi) for sponsoring an MF.
“We hope to get the final approval from Sebi in the next two-three months,†Nirmal Jain, founder and chairman of India Infoline, told reporters during a function to announce his firm’s tie up with Yes Bank for offering stock broking services to the bank’s customers.
The offering will be a three-in-one account, where the bank account and depository account will be with Yes Bank, while the broking account will be with India Infoline.
