SEBI is set to allow E-Commerce firms to sell mutual funds.
A SEBI panel on digitization of financial services headed by Nandan Nilakeni, has submitted its recommendations.
Flipkart & Amazon might sell mutual funds. SEBI wants the plan to work right, from the beginning J
As stated, ‘The idea is to ATTRACT as many potential mutual fund investors as possible from day one, ‘WITHOUT CREATING TOO MUCH RISK’, for customers (customers, Not Investors).
The ‘Selling Process’ (the word SELLING) will be designed to earn investors on Suitability.
After submission of personal details (age, pan #, bank, Aadhar #, Income, location details et al on these websites…it will offer products that are suitable & checks, that the buyer is NOT Overexposed to Excessive Risks.
Buyer Beware & not Investor Beware
There is a fundamental difference between the word BUY & INVEST. I hope that the intellectual committee realizes this difference.
It might take off like a rocket, but let the people who shop on these websites ‘Daily’, understand first –
Investing > Savings > Spending
They are now @ Spending J