MFs cheer Sebi's move to allow celebrity endorsements

It was a long-standing demand of Amfi to help generate a better connect with investors

The Rs 16.5-lakh crore domestic mutual fund (MFs) industry has welcomed Sebi's decision to allow celebrity endorsements, with industry body Association of Mutual Funds in India (Amfi) planning to come up with a roadmap soon. Just like other financial products such a banking, insurance and home loans, MFs too will be able to rope in big stars to create awareness and increase the reach of their financial offerings.

Celebrity endorsement was a long-standing demand of Amfi to help generate a better connect with investors. The move, however, faced resistance due to fears of misselling.

However, with stringent rules in place to