ONDC is an initiative by DPIIT, Ministry of Commerce, aimed at democratising digital commerce through the development of an interoperable open network for digital transactions.
Prateek Agrawal, Managing Director and Chief Executive Officer at MOAMC, said, “By integrating with the ONDC Network, we are not just offering investment products through a new distribution channel, but also working towards creating greater access for retail investors to a range of funds that may help them work towards their individual financial goals.”
This initiative seeks to enhance access to mutual fund investing by establishing a digital distribution channel. By utilising ONDC’s open protocol, MOAMC aims to enable broader access to mutual fund products for a wider range of investors, including first-time investors. It intends to support efforts to boost participation in financial markets and to utilise India’s digital public infrastructure, the company said in a statement.
Anchal Jajodia, Co-founder of Cybrilla, said, “By enabling this connection, we are helping create new pathways for grassroots investors to access high-quality funds through local distributors and digital platforms alike.”
Adding to this, Vibhor Jain, Acting CEO and COO at ONDC, said, “Motilal Oswal AMC’s integration with the ONDC Network marks a significant shift from centralised to decentralised distribution. When established players like Motilal Oswal AMC take bold strides in technology-led innovation, it signals confidence in the ecosystem. Further, this foresight sets a precedent for the industry to follow and fosters greater retail participation in formal finance.”