Retired employees of banks will soon benefit from the Mutual Fund Distributors (MFD) certification examination,as SBI Mutual Fund will tie up with the National Institute of Securities Markets (NISM) to conduct the MFD certification.
SBI Mutual Fund,on Saturday announces its strategic alliance with NISM for conducting MFD certification examinations at select learning centres of SBI and associate banks.
Firstly,it will enable a large force of existing and retired bank employees to get trained to advise and sell Mutual Fund schemes and secondly,through them,it will reach out to a wider set of MF investors in Tier 2 and Tier 3 cities.
Deepak Chatterjee,Managing Director and CEO,SBI Funds Management Private Limited said,An efficient,well informed and customer-centric distribution network is the best way to tap potential investors in Tier 2 and 3 cities. Through this initiative,we aim to achieve the objective of increased acceptance of mutual fund schemes amongst the banks customers.
The alliance is expected to provide the twin benefits of increasing the number of MFD certified employees in the State Bank group and also widen the reach of NISM in terms of creating capabilities for distribution of Mutual Fund products in different geographies across the country, says Sandip Ghose,director of NISM.
An inaugural function was held at SBLC,Chandigarh to mark the beginning of conducting MFD examinations. Deepak Chatterjee,MD and CEO,SBI Funds Management Private Limited,Sandip Ghose,director NISM,NK Chari,Chief General Manager,SBI,Chandigarh and Achal Kumar Gupta,MD of State Bank of Patiala attended the inaugural function.