Axis mutual fund uses ONDC to reach underserved, remote investors

This integration 'marks a significant step toward making mutual fund investments more accessible, affordable, and inclusive', says the company

Axis Mutual Fund has partnered with the government-backed Open Network for Digital Commerce (ONDC) to offer its mutual fund schemes through the digital platform. This move is aimed at making investments more accessible, especially for individuals in underserved and remote areas of the country. 

ONDC, launched by the Ministry of Commerce, is designed to create an open network for digital commerce providing wider access for both buyers and sellers.

 

Axis Mutual fund’s integration with ONDC

 

According to the statement issued by Axis Mutual Fund on April 15, this integration “marks a significant step toward making mutual fund investments in its schemes more accessible, affordable, and inclusive.” The company said that this partnership will empower investors by simplifying access to mutual fund products and removing traditional entry barriers.

 

“This integration with ONDC is a game-changer for financial inclusion in India,” said B Gopkumar, MD & CEO of Axis AMC.

 

“By leveraging ONDC Network, we are breaking down barriers and making mutual fund investments accessible to millions of Indians, including those in underserved and remote areas. Our goal is to democratise wealth creation-- empowering every individual, regardless of location or income, to take control of their financial future.”

 

Benefits for investors

 

Greater accessibility: Investors across the country, even in remote locations, can now explore and invest in mutual fund products more easily.

 

Platform independence: ONDC allows transactions to take place across multiple platforms, eliminating the need for users to stick to any single investment app or service.

 

Cost-effective distribution: The interoperable infrastructure of ONDC helps reduce distribution costs, making investment products more affordable for retail investors.

 

Security and transparency: Being a government-regulated network, ONDC ensures secure and transparent transactions, which can build greater investor trust. 

 

Hrushikesh Mehta, SVP—Financial Services, ONDC, also shared his views in the press release.

 

“With Axis Mutual Fund coming on board, we are enabling a more inclusive investment landscape, one where digital infrastructure empowers individuals, regardless of location, to take charge of their financial growth. This marks a significant step toward making wealth creation truly democratic in India,” Mehta said.