Storyboard18: Mahakumbh an ideal platform for financial awareness: AMFI Chair

Navneet Munot, Chairman of the Association of Mutual Funds in India (AMFI) and MD & CEO of HDFC AMC, highlighted the Mahakumbh event as a crucial opportunity to spread financial awareness. With 400 million attendees from diverse economic backgrounds, he emphasised its potential as a powerful platform for financial education.Munot underscored the importance of ensuring that financial lessons resonate alongside other key messages from the event. “When people leave with numerous takeaways, it is essential that they also carry an understanding of financial planning—the ‘Mutual Fund Sahi Hai’ message, the significance of systematic investment plans (SIP), and the need for sound financial management,” he said.

Expanding India’s mutual fund investor base

AMFI aims to significantly expand the mutual fund investor base. “Our endeavour is to grow from 50 million investors to 100 million in the short to medium term, and eventually see a multifold increase. Mahakumbh presents a major opportunity to drive this message,” Munot stated.He also stressed the need to engage younger generations, such as Gen Z and Gen Alpha, in financial literacy. These groups, he noted, are more curious, aware, and open to taking calculated risks, making them ideal for long-term investing.

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Strengthening financial literacy and investor protection

To promote financial literacy, AMFI launched the Bharat Nivesh Run in tier-two towns, blending financial education with physical fitness. This initiative aims to spread awareness about mutual funds and financial planning through interactive sessions and community engagement.

Munot also highlighted the growing risks of digital fraud, calling for increased awareness of digital safety. He reaffirmed AMFI’s commitment to financial education and investor protection, ensuring that individuals make informed decisions in an evolving financial landscape.

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For the full interview, watch the accompanying video.