India Infoline gets board nod to start AMC

The board of directors of India Infoline, a financial services provider, has given approval to sponsor a mutual fund and set up an asset management company and other related entities for carrying on mutual fund activities.

According to an official release issued by the company to the BSE today, the board has also approved an increase in limits for investments/loans and guarantees up to Rs 2,000 crore. Both are subject to shareholder and other regulatory approvals.