AMFI's New Initiatives to Boost Financial Inclusion and Investor Awareness
| Aspect | Details |
|---|---|
| Why in News? | The Association of Mutual Funds in India (AMFI) launched three initiatives--Chhoti SIP, Tarun Yojana, and MITRA--to enhance financial inclusion, investor awareness, and retrieval of unclaimed investments. |
| Chhoti SIP | Introduces a ₹250 Systematic Investment Plan (SIP), making mutual fund investments accessible to first-time investors and underserved communities. |
| Tarun Yojana | Integrates financial literacy into school curricula, equipping youth with foundational investment knowledge. |
| MITRA | Mutual Fund Investment Tracing and Retrieval Assistant (MITRA) platform helps investors and heirs track and recover unclaimed mutual fund investments. |
| Objective | Democratize mutual fund investments, promote financial inclusion, and address awareness and accessibility gaps. |
| Context | India's mutual fund industry has grown significantly, with Assets Under Management (AUM) surpassing ₹65 lakh crore, yet a large population remains outside the formal investment ecosystem. |