Reimagining Core Customer Experience
In a circular released on November 5, SEBI has revived Aadhaar-based eKYC for mutual funds. In previous avatars, Aadhaar-based e-KYC holders were allowed to invest up to Rs 50,000 in a financial year, which is now unknown .
SEBI has asked IFAs to register with a KYC user agency (KUA) as a sub-KUA. The KUA has to register itself with Unique Identification Authority of India (UIDAI).
Leveraging Partnerships to Expand Capabilities
Diversifying the distribution outreach by leveraging the wide network of banks, post offices across the country, significantly augmenting the distribution base by another 4 lakhs, strengthening direct and digital channels, thus ensuring the last-mile connectivity and achieving inclusion through tech-led simplified entry-level on-boarding and offering simple savings solutions, would be key to Indian mutual fund industry adding 80 million new investors and accomplishing the Rs 100 trillion AUM opportunity, says a report.
So start planning to invest in mutual funds today with the best mutual funds app for android, and the best mobile app for mutual fund investment. Gains are high, and the industry is promising good returns. Do not hesitate to get in touch with our mutual fund executives today.
By Rajan Pathak, Co-Founder & MD, Fintso
Rajan is known for his in-depth insight into the financial entrepreneur’s venture with 25+ years of establishing various B2B businesses, which gives him the edge and adeptness to scale the advisory business.
As the CEO of IFAN Finserv (formerly ING), Rajan managed a team of 40+ people, created a wide network serving 1300+ Independent Financial Advisors managing assets over $500 million.