SEBI Looking To Allow E-commerce Companies To Sell Mutual Funds

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

[Source]

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