Bajaj FinServ, a financial services unit of Bajaj Group, is seeking to start its mutual fund business, Business Standard reports. The company has got approval from the capital markets regulator Securities and Exchange Board of India (Sebi) for the same.
Bajaj FinServ will start its new operations by the end of next year. The financial company saw more its net profit than double to $31.68 million in the second quarter. Its total income during this period rose by 52 percent.
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