The Securities Exchange Board Of India is planning to allow e-commerce websites such as Flipkart and Amazon to offer mutual funds, says Chairman U.K Sinha.
Indians have approximately spend about $9 billion this year on online shopping portals, reports livemint. SEBI is interested in ‘altering regulations’ to allow e-commerce websites to offer mutual funds.
According to Sinha e-commerce could sell funds to help money managers to reach out to young investors easily.
“There are traditional investors and there are young, computer-savvy people with money to invest at a very early age. We are trying to change how mutual funds are being sold in the country,” adds Sinha