(MENAFN- KNN India) New Delhi, Aug 20 (KNN) The Association of Mutual Funds in India (AMFI) has launched a new initiative to expand financial inclusion and strengthen mutual fund penetration across the country.

In partnership with India Post, AMFI plans to train around 100,000 postmen as certified mutual fund distributors.

The idea is to use the postal network's deep reach to take mutual funds to smaller towns and rural areas where awareness is still limited.

The pilot project will begin in four states-Bihar, Andhra Pradesh, Odisha, and Meghalaya. The target is to have at least ten mutual fund distributors in every district by the end of this year.

Along with postmen, AMFI is also focusing on college students, aiming to bring around 20,000 of them on board as distributors in the first year.

AMFI's CEO, Venkat Nageswar Chalasani, said this effort is designed to create a wider base of informed distributors who can guide people about investment opportunities.

By involving both postmen and students, the program is expected to tap into local communities and build trust among first-time investors.

The move is part of a larger strategy to democratise investment options beyond India's top cities and encourage people from smaller districts to participate in wealth creation.

If the pilot succeeds, it will serve as a model for scaling up across the country, potentially transforming the mutual fund industry's reach and impact.

(KNN Bureau)

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