Market regulator SEBI is preparing to take a big step with the aim of increasing the participation of women in mutual funds. SEBI Chief Tuhin Kanta Pandey recently said that preparations are being made to give extra incentives to women investors investing for the first time.
Market regulator SEBI is considering a plan to give special incentives to first-time female investors to increase women’s participation in mutual fund schemes. Securities and Exchange Board of India (SEBI) Chairman Tuhin Kant Pandey gave this information in a program of Association of Mutual Funds in India (AMFI). Its purpose is to connect more and more women to the mainstream of investment.
SEBI Chairman Tuhin Kant Pandey said, “Financial inclusion is incomplete until women become equal partners in it. Therefore, we are planning to give additional distribution incentives to first-time female investors.”
SEBI Chief said that SEBI is taking several measures to encourage the industry. One such recent proposal is to encourage distributors in B30 cities (Tier 2 and Tier 3 cities). This move will not only add new investors, but will also increase the reach of mutual funds to low investment areas, which will benefit the industry. Now the focus on women investors is part of this strategy.
Why is women’s participation necessary?
At present, the size of the mutual fund industry is about Rs 57 lakh crore. But the share of women investors in it is still very low. SEBI believes that if women’s participation increases, then there will be new energy in the market and the goal of financial inclusion will be achieved. Tuhin Kant Pandey said that SEBI is reviewing the categorization of mutual fund schemes so that investors get transparency and the problem of overlap is eliminated. He said that the next steps will be taken based on the feedback received from the consultation process. SEBI Chairman said that these measures will help the industry become more transparent and investor-friendly.
Relief given to AMCs
Recently, SEBI reviewed the reports and filings submitted by mutual funds under ease of doing business and compliance simplification measures. Based on this, the regulator has decided to eliminate the need for filing more than 52 reports, notices and addendums by asset management companies (AMCs). In the coming months, SEBI will take steps to further simplify mutual fund regulations.
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