AMFIs Newly Introduced Initiatives: Tarun Yojana, Chhoti SIP and MITRA
The Association of Mutual Funds in India (AMFI) has introduced new schemes to enhance financial literacy among Indian citizens. These schemes are Tarun Yojana, Chhoti SIP and Mutual Fund Investment Tracing and Retrieval Assistant (MITRA). These initiatives are introduced to encourage the participation of investors from different segments of society.
India’s mutual fund industry is growing rapidly. Its assets under management (AUM) have surpassed Rs 65 lakh crore, which shows the active participation of investors in India. However, a large portion of India’s population is still unaware of mutual fund schemes. AMFI is actively working to promote financial literacy through investor education, regulatory collabortion and introducing innovative solutions. Here is the overview of newly introduced initiatives by AMFI
The Tarun Yojana
AMFI aims to build financial awareness among the young generation by educating them about investment principles at an early stage. The Tarun Yojana focuses on delivering financial literacy to students through school curriculums, ensuring that the next generation is equipped with the right knowledge to make financial decisions.
The Chhoti SIP
This is a new investment plan where individuals can start their mutual fund journey with Rs 250 through systematic investment Plan(SIP). The purpose is to make mutual funds more accessible to lower-income groups and investors from underserved sectors.
Mutual Fund Investment Tracing and Retrieval Assistant (MITRA)
This initiative is designed to allow investors and their legal heirs to trace and recover their forgotten or inactive mutual fund investments. This enables investors to claim the ownership of their assets.
Madhabi Puri Buch, SEBI Chairperson, has also emphasized the role of financial inclusion. She opined that investor participation is of great importance for India’s financial market. The efforts of AMFI will urge investors to take the first step towards investment. It will also offer necessary facilities to provide security, transparency and accessibility of mutual fund schemes.
Mutual funds play an important role in determining India’s financial scenario, according to Venkat Chalasani, the CEO of AMFI. AMFI aims to minimize entry barriers and encourage financial literacy at an early stage by giving tools to identify and recover investments to investors. The program targets creating a community of well-educated and confident investors.
