After Edelweiss, IndiaInfoline board has informed that they will venture into Mutual Fund business and the board has also approved of setting up an Asset Management Company for the same. The board has decided to increase the limits for investments / loans and guarantees upto a maximum amount of Rs 2,000 crore.
Union Bank of India is also seeking entry into the mutual fund market and may most probably tie-up with someone to sell Mutual Funds and related products to its banking customers.