SERVICE EVOLUTION
What if we told you there was a time when mutual fund NAVs were reported once every three months? Sounds unbelievable? W Well, that did happen in the early 90s. That this statement meets with disbelief indicates how far mutual funds have evolved in transparency and investor service over the years and are now setting benchmarks for others.
Ease of transactions
Mutual funds were relatively late to embrace the digital. Back in 2002, post-dated cheques were still the norm for creating an SIP. Even in subsequent years when online banking flourished and reached the masses, and grocery orders were at our fingertips, mutual funds remained analogue. The emergence of online platforms didn't help matters either: KYC compliance remained an in-person process.
But that's history now. Aadhaar-based KYC has digitised the mutual fund investment journey end-to-end, aided by the user-friendly interfaces set up by several digital platforms. Furthermore, features like one-time mandates, SIPS/SWPS/STPs, top-ups, etc., offer investors a high degree of convenience and flexibility. And none of these facilities cost you a dime. Compare that with banks where you even end up paying for SMS confirmations!
With the launch of MFCentral, even non-financial transactions such as updating nominees, change in bank account details, etc., can be done online.
In short, transacting in mutual funds today is extremely simple, convenient, safe, customisable, and cost-free.
Aggregation
Denne historien er fra November 2022-utgaven av Mutual Fund Insight.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra November 2022-utgaven av Mutual Fund Insight.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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'Since Sahi Hai drive launch, industry has grown over twofold'
The AMC’s marketing and corporate communication head also lauds MFCentral and MF Utility
'Earlier, not many knew of mutual funds; now SIP is a verb'
The CMO also explains how 4G, fintechs have elevated mutual funds’ reach
'MFCentral is the most impressive of online platforms'
Shah says though passive funds are growing, there’s a long road ahead
'Fintechs are driving mass financial inclusion'
Shah also lauds the pace at which distributors have embraced technology
'A Maldives tour guide knew of the Mutual Fund Sahi Hai drive'
Interaction with Edelweiss’s senior VP and head of products and marketing
'More distributors will come to MFCentral, MF Utility'
Goyal feels they can grow their business five times, 10 times with tech
'The size of passive funds has grown 36 per cent in a year'
Parija explains how mutual funds have gained traction
Tomorrow, and tomorrow, and tomorrow...
There are a total of about 1.1 lakh crores of rupees invested in India’s mutual funds and the number of investors is now about 12 crore