Mutual Fund industry has added more than Rs 3.5 lakh crore to its asset base in 2016 to reach Rs 17 lakh crore mark, primarily on account of growing interest from retail investors and aggressive buying of stocks.
In an interview with CNBC-TV18, State Bank of India Chief Financial Officer Anshula Kant talked about the bank's mega merger with its five associate banks and Bhartiya Mahila Bank.
With nine months to go to complete the merger process involving its associates, SBI is working on details of the amalgamation proposal, which will be submitted to the government soon for approval
The asset base of country's mutual fund industry dropped to Rs 13.81 lakh crore at the end of May after hitting all time high in May
IDFC, which is also in the fray for banking licence, said it would pursue diversification of its asset class independent of the outcome of their application.