Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Friday said that additional incentives could be given to women investing in mutual funds for the first time. He said that financial inclusion will be complete only when equal participation of women is ensured.
“We are proposing to give additional incentives to distributors of mutual funds for first-time women investors,” Pandey said at an AMFI event.
Small SIP described as ‘seed of financial security’
Speaking on the 30th foundation day of the Association of Mutual Funds in India (AMFI), Pandey called for taking small Systematic Investment Plans (SIPs) to every household. He said, “Every SIP is a seed that can grow into a financial tree”. He said that investments starting with small amounts should be adopted as ‘Satisfaction of Investments’ so that the reach of investment can be increased to tier-2 and tier-3 cities.
Warning on data privacy and fraud
The SEBI chief also made it clear that mutual fund houses will have to be fully accountable for the activities of their vendors and third-party partners. He said that data privacy should be given top priority and in the era of digitalization, special vigilance is necessary on threats like fraudulent redemptions.
AMFI’s 30th Foundation Day and new initiatives
On this occasion, AMFI celebrated its 30th Foundation Day, in which many big leaders of the industry and policy makers participated. During this, many new initiatives were started to promote investor education and financial literacy.
AMFI launched the ‘Investment Ka Sahi Kadam’ campaign, under which content in 13 languages and more than 30 on-ground camps will be organized. Apart from this, a unique initiative like ‘Bharat Nivesh Rail Yatra’ has also started, under which information related to investor education will be delivered to the passengers on Vande Bharat trains. Also, the Mutual Funds Sahi Hai website has been launched in a new format, with features like multi-language support and easy navigation.
In short, the SEBI chief’s message is clear —
-For the first time, women investors will get special incentives.
-Investment will be taken to every home by encouraging small SIPs.
-Data security and fraud prevention will be the responsibility of the mutual fund house.
-AMFI has launched several new initiatives to increase investor awareness.