Mahindra AMC, a wholly-owned subsidiary of Mahindra & Mahindra Financial Services (MMFS), got the regulator's nod on February 4.

However, the company did not disclose by when it will start offering mutual fund products. At present, there are over 40 mutual fund houses operating in the country.

HDFC MF, ICICI Prudential and Reliance MF are among the top mutual fund companies in India. MMFS is a part of the Anand Mahindra-led Mahindra group.

The financial services arm has more than 1,000 branches across the country with over 16,000 employees.

Latest News  from Business News Desk