Indian Bank has informed that it has inked an agreement with Anil Dhirubhai Ambani Group’s Reliance Capital Asset Management Ltd, to act as a Corporate Agent to sell the Mutual Fund products of Reliance Mutual Fund.

Under the Agreement, branches of Indian Bank will sell Mutual Fund products of Reliance Mutual Fund.

The Agreement was signed on April 30, 2008 at Chennai by M S Sundara Rajan, Chairman and Managing Director of Indian Bank and Vikrant Gugnani, CEO of Reliance Mutual Fund, in the presence of A Subramanian, Executive Director of the Bank.

The Bank has posted a net profit of Rs 2416.70 million for the quarter ended March 31, 2008 as compared to Rs 2353.00 million for the quarter ended March 31, 2007.