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To: Mohan Marette who wrote (421)	3/17/2000 6:05:00 PM
From: Mohan Marette	Respond to of 494

OT Clinton Calling -> Guess who is coming to dinner. Message 13230165

To: Mohan Marette who wrote (421)	3/17/2000 10:04:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

On a fund spree March 18 to 24, 2000 (Now it is the turn of foreign banks to enter the mutual fund market, writes Aarti Dua) They?re the big guns of foreign banking in India. Now they're hoping to make it big in the Rs 1,01,565-crore (as on January 31, 2000) mutual funds market as well. So the ANZ Banking Group became the first foreign bank to receive permission from the regulator, Securities & Exchange Board of India (Sebi), to set up a domestic mutual fund, last week. Others like HSBC and ABN-Amro Bank have already made applications to set up asset management companies and it's only a matter of time before they receive their clearances. Even Citibank and Standard Chartered are reportedly considering the possibility of entering the mutual funds segment. The rush to set up mutual funds is easy to understand. For one, most of the foreign banks already have successful asset management operations internationally besides having established operations in India. Then, it's part of the thrust towards universal banking that has seen banks eager to emerge as one-stop shops for financial services and products........... business-standard.com