India's Federal Bank Ltd. said April 8 that it partnered withPhillipCapital (India) Pvt. Ltd. to manage the bank's portfolio investmentscheme for nonresident Indians.

The partnership will allow nonresident Indians and personsof Indian origins to use PhillipCapital's wide global network to participate inIndia's equity markets.

PhillipCapital (India) is a subsidiary of Singapore-basedPhillipCapital group.