At the recently-held Business Standard Smart Business seminar on ‘Expending Earnings of IFAs & Reach of Mutual Funds in Remote Areas of our
Country’, organized in association with ICAA (Independent Consultants and Advisors Association) in Bardhhaman, the speakers discussed ways to
increase the penetration of mutual fund products across Eastern India.
The speakers were unanimous in their view that mutual fund distributors needed to spread out to more locations, and that investor awareness
programmes were critical to bring in informed investors into mutual fund schemes.
Gaurang Ganeriwal, Regional Head – WB & NE, ICICI Prudential AMC, called for investments to expand the branch network and advocated the use of
digital technology in remote areas.
Romit Barat, Regional Head – East, Motilal Oswal AMC, said that ignorance of equity investing was one of the key reasons for under-penetration
of mutual funds in rural India. “Investor education about equity investing is necessary for greater participation of investors from rural
India,” he said.
Goutam Karmakar, General Secretary, ICAA, reiterated ICAA’s commitment to empower distributors with training and learning initiatives on the
latest tools and techniques.
Rana Basu, Senior VP, UTI AMC, informed the gathering about his company’s efforts to work closely with the distributor community to
consolidate the mutual fund business across the country.
Saibal Banerjee, VP & Regional Head – East, DHFL Pramerica, also spoke on the occasion.
More than 150 financial advisors and mutual fund distributors from across Bengal attended the programme.
