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ICC Mutual Fund Conclave E-Commerce firm to sell Mutual Fund product

ICC Mutual Fund Conclave E-Commerce firm to sell Mutual Fund product1111

Bhubaneswar:23.09.2016 (By Sanjit Kumar Mohanty)- SEBI is working towards digitization of financial services. In this context, it has submitted a recommendation to allow e-commerce firms to sell mutual funds. This recommendation has been forwarded to AMFI for feedback and additional inputs. This will help make Mutual Fund products more accessible to people as said by experts in the ICC mutual fund conclave organized at Hotel New Marrion today.In the welcome address additional director of Indian chamber of commerce Souvik Banarjee told  that, “After the interest rate cut that has led to a slide in bank deposit rate and postal savings rate, there remains enough hope for the Mutual Fund industry inflows in India. Avenues where fixed return investors usually put their money are shrinking. Popularity of debt funds are on the rise, given the long-term benefits associated with them. “ “Increased awareness amongst people regarding regular disciplined way of investing has popularized SIPs, accrual based debt funds and medium-term duration fund. These are  contributing significantly to the asset buildup of the Indian Mutual Fund industry.’’ He added. He also said that, “GST, the biggest reform in India’s indirect tax structure that looks set to become a reality, it needs to be seen what is in store for the Mutual Fund Industry that is currently under the ambit of service tax.” Other dignitaries presented at the event were Vikas Rathie , Zonal Business Head-East, Reliance Nippon Life Asset Management Ltd and N.K Prasad , President & CEO, Computer Age Management Services Pvt Ltd. After Inaugural session a panel discussion on B-15 Cities-The new destination for Mutual Fund Industry organized. Panelist were Binod Kumar Sharma, AGM, SEBI, Shibani Kurian, Senior  Vice President, Equity Research Group, Kotak Mahindra AMC Ltd, Vikas Rathie,Zonal Business Head-East, Reliance Nippon Life Asset Management Ltd, Chittaranjan Panda, AVP &Regional Head , SBI Funds Management Pvt Ltd and Narayan Venkat, Assistant Vice President, NSDL.

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