Central Bank of India informed the exchanges today that it has entered into a distributorship agreement with PPFAS Asset Management Company for the distribution of their mutual fund products to its customers on a Do it yourself (DIY) model.

The participation by both the entities in this arrangement will result in offering the customers of Central Bank of India, an opportunity to unlock the value of their savings through various mutual fund products offered by PPFAS Asset Management Company Ltd, the company said in its exchange filing.

PPFAS Asset Management Company Ltd. (PPFAS AMC) has been promoted by Parag Parikh Financial Advisory Services Pvt. Ltd., and incorporated in year 2011. It is in the asset management space offering Mutual Fund Products under six schemes. Overall, the Fund House handles over Rs. 66,000 crores of AUM as on 29th February, 2024.