Market regulator, Securities and Exchange Board of India (Sebi), is set to launch 1,500-2,000 super-ATM centres across the country in the next 12-18 months for the growth of the mutual fund industry, a top official said. "To facilitate investments in mutual funds and availability of information to investors, we need to create a huge infrastructure. We are trying to build this through a concept of super-ATM centres around the country," Sebi's executive director, KN Vaidyanathan, said at a mutual fund award function here. At the press of a button in super-ATMs, investors would be able to transact and get all the information about mutual fund schemes. The ATMs will also send queries and receive information, he said. Sebi would partner with the mutual fund industry to build infrastructure and a large part of the work will be in place in the next 12-18-months. Mr Vaidyanathan said that the mutual fund industry was poised to grow from Rs 3-lakh-crore to Rs 30-lakh-crore in the next five years. The number of shareholder accounts was also set to grow from two crore to five crore in the next five years.
The Make in India program was launched by Prime Minister Naredra Modi in September 2014 as part of a wider set of nation-building initiatives. It was devised to transform India into a global design and manufacturing hub. The primary motive of the campaign is to encourage multinational as well domestic companies to manufacture their products in India. This would create more job opportunities, bring high-quality standards and attract capital along with technological investment to bring more foreign direct investment (FDI) in the country. Why India as the next manufacturing destination? The rising demand in India along with the multinational's desire to diversify their production to include low-cost plants in countries other than China, can help India's manufacturing sector to grow and create millions of jobs. In the words of our Honourable Prime Minister- Mr. Narendra Modi, India offers the 3 'Ds' for business to thrive— democracy,...
