Postmen to sell mutual funds? 1 lakh India Post staff to undergo MF distributor training by AMFI

AMFI, in tie-up with India Post, to train nearly 1 lakh postmen as mutual fund distributors to expand retail investor base.

Focus on Bihar, Andhra Pradesh, Odisha, and Meghalaya, targeting 20,000 new distributors in the first year.

Mutual fund folios surged from 2.1 crore in 2019 to 5.6 crore now; goal is to double in coming years.

India’s mutual fund AUM stands at 21% of GDP, far below global average of 65%, leaving significant growth potential.