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NT Bureau
Chennai, Feb 15:

        Bank of Baroda and Pioneer Global Asset Management have signed a Memorandum of Under-standing with the aim of entering into a joint ven-ture in asset management in India.

        The MoU has laid out a framework for a partners-hip between the two parti-es with the aim of building a leadership position in India 's mutual fund industry.

        'This is an important step towards the development of our banking group,' said Dr Khandelwal, CMD, Bank of Baroda.