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Templeton Ties up with Banks for Direct Credit

Templeton Mutual Fund has tied up with the following banks for enabling direct credit of redemption: ABN Amro Bank, BNP Paribas, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, IDBI Bank, UTI Bank, Standard Chartered Grindlays Bank.

Currently this facility is available to investors in Templeton India Liquid Fund and Floating Rate Income - Short Term Plan

Under this arrangement, the amount of redemption would be directly credited to the investor's bank account instead of the current practice of a physical cheque being dispatched.