New interoperable MF platform could queer the pitch for fintechs

Sebi's move has raised doubts over the role of players like Kuvera, Groww and Paytm Money. Currently, most users prefer these players for most activities that the new platform is designed to do

The proposed common transaction platform for mutual fund (MF) investing could queer the pitch for fintech players, who are fast gaining popularity with their intuitive mobile applications.

The Securities and Exchange Board of India (Sebi) has announced that registrars and transfer agents (RTAs) will jointly develop an interoperable platform for purchase and redemption of MF units. The platform will also be loaded with other features such as on-demand financial and holding statements and change of email or mobile number. The regulator is aiming to make it a one-stop solution for the Rs 33-trillion MF investors in a bid to enhance