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    Mahindra Finance eyes rural products for Mutual Fund biz

    According to Ramesh Iyer, managing director, Mahindra Finance, the company is waiting for in-principal approval from the stock market regulator Securities Exchange Board of India (SEBI) for its mutual fund business and it should come by August.
    June 14, 2011 / 15:44 IST

    Saikat Das
    Moneycontrol.com

    Mahindra Finance, the non-banking finance arm of the USD 11.1-billion Mahindra Group plans to focus on investors in the rural areas for its soon to be launched asset management company.

    Mahindra Finance had applied for a mutual fund license last year, but then decided to go slow, due to adverse market conditions.

    Ramesh Iyer, managing director, Mahindra Finance told moneycontrol.com that the company is expecting an in-principal approval from market regulator Sebi by August.

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