Data from last year, sourced from asset management companies, showed that on an average SIPs through platforms such as Groww, PhonePe and ET Money ranged between Rs 1,500 to Rs 2,500 against Rs 5,000 for traditional firms.
Buch hailed mutual fund SIPs as a great tool for financial inclusion. "In the external marketplace, I think the most important piece that I would like to see happening is greater financial inclusion."
Despite the rising interest in financial products among retail investors, the Indian mutual fund industry is still limited to just 4 crore investors. In a recent episode of the popular podcast The BarberShop with Shantanu , Radhika Gupta, the MD & CEO of Edelweiss Mutual Funds, highlighted the challenges faced by the industry in competing for investors money with major players like Swiggy and Zomato. Gupta emphasized the need for young individuals to save more.
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