EXTEND JAN DHAN MODEL TO MUTUAL FUND INDUSTRY FOR ITS GROWTH: MD & CEO, BSE

A time has ripened for Jan Dhan Model to be extended for mutual fund industry as a suitable regulatory measure to enlarge and broad base its size both in terms of subscription and volumes for overall expansion and growth of mutual fund industry, according to Managing Director & CEO, BSE Ltd., Mr. Ashish Kumar Chauhan.

Addressing a Conclave on “Mutual Fund Industry – Overview & Evolution” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Chauhan highlighted that just as with the launch of Jan Dhan Yojana, the banking system could open up 25 crores of additional accounts, enlisting participation of poorer masses in banks, a similar initiative is called for mutual fund industry also.

“This would multiply the participation of common masses into mutual fund industry for more positive gains from currently estimated  number of people of close to two crore with its total financial size, currently pegged at Rs.20 lakh crores”, emphasized Mr. Chauhan.

According to him, if the Jan Dhan Model is extended to mutual fund industry without any delay, just as the nation witnessed an anticipated progress on its financial closure angle, similar yield would also be noticed in mutual fund industry with its growth and volume multiplying manifold.

He, however, advised the novice and gullible investors to cautiously park their surpluses in mutual funds and other similar portfolios of equity market by intelligently weighing its pros and corns for higher and better returns as also called upon the participants of mutual funds industry to be fairer with investors while allocating mutual funds to them.

In his welcome remarks, President, PHD Chamber, Mr. Gopal Jiwarajka also advised the investors to be innovative while making their investments in mutual funds even though mutual fund industry has been offering quite a handsome return these days and hoped that the trend would continue.

Chairman, Capital Market Committee, PHD Chamber, Mr. D K Aggarwal in his observations felt that well managed mutual funds are the best portfolios for investors as compared to other savings channels in banks and other traditional avenues.

Among others who spoke on the occasion highlighting the remunerative returns relating to mutual funds comprised Regional Director North, SEBI, Mr. Amit Pradhan; Equity Fund Manager, LIC Mutual Fund, Mr. Sachin Relekar; Managing Director, Taurus Mutual fund, Mr. R K Gupta; Equity Fund Manager, Sundaram Mutual Fund, Mr. Rahul Baijal; Chairman-Northern Region, Association of National Exchanges Members of India, Mr. Narinder Wadhwa and Co-Chairman, Capital Market Committee, PHD Chamber, Mr. B K Sabharwal.​