Physical presence back in focus as mutual funds look beyond metros

New branches being added even as digitisation empowers every transaction

The mutual fund (MF) industry turned digital rapidly in the pandemic, with even non-financial transactions going online. Yet MF companies aren't pulling the plug on physical branches and many are even increasing their count.

SBI Mutual Fund leads the way by adding close to 55 new branches since January 2020. The country’s largest fund house has a physical presence in even small towns like Purulia (West Bengal), Mirzapur (Uttar Pradesh), Chaibasa (Jharkhand), and Srikakulam (Andhra Pradesh) among others.

“Covid-19 infused lockdown made online the preferred way to stay connected to investors, but we believe offline interactions are equally important to serve millions