AMFI Announces Two Nationwide Initiatives Targeting Young Investors

The Association of Mutual Funds in India (AMFI) announced two new initiatives, the Bharat Nivesh Yatra and the Bharat Nivesh Young Minds Essay Competition, on September 27, 2024. These initiatives aim to promote financial literacy and raise investor awareness across the nation.

The first initiative, 'Bharat Nivesh Yatra,' is a comprehensive 75-day program designed to deliver financial education directly to millions of people across the country, said AMFI in a release. Four specially branded buses will travel through over 170 towns, equipped with interactive kiosks and digital experience zones. "These mobile classrooms will provide engaging educational resources focused on mutual funds, along with interactive goal-setting activities and SIP calculators to assist individuals in planning for their financial futures," AMFI said.

Its second program, 'Bharat Nivesh Young Minds Essay Competition', is a nationwide contest for grades 8-12 students. "Under the theme-- 'Importance of Financial Literacy for a Viksit Bharat,' this competition seeks to foster financial literacy among the younger generation by encouraging thoughtful exploration of personal finance and its significance in national development," AMFI said. Madhabi Puri Buch, Chairperson of SEBI, said that these initiatives could foster responsible financial behaviour, promote entrepreneurship, and enhance the overall financial health of citizens.

Navneet Munot, Chairman AMFI, said, "These initiatives not only aim to educate individuals about the importance of investing but also seek to inspire the next generation to embrace financial knowledge as a vital tool for personal and national growth."

Venkat Chalasani, Chief Executive AMFI, said, "This grassroots approach to financial literacy is essential to equip every citizen with the tools to secure their financial future."

AMFI, a non-profit organization with 44 asset management companies registered with SEBI as its members, has been at the forefront of launching numerous initiatives to educate the public about mutual funds and responsible investing under the 'Mutual Funds Sahi Hai' campaign.

Past Initiatives By AMFI

AMFI ran the Mutual Funds Sahi Hai campaign in 2017 to raise awareness about mutual funds and promote them as a preferred investment avenue for long-term financial goals. After this campaign, it launched the 'Jan Nivesh' campaign in 2018 to encourage investment in mutual funds, particularly in rural households. It urged citizens to pledge to invest one day's income in mutual funds every month. Over a span of seven months, a campaign team travelled across 100 cities and conducted over 100 camps to spread this message. In 2022, AMFI initiated a campaign named "MFD Business Karein Shuru"  to address the shortage of mutual fund distributors (MFDs) in India, asking aspirants to clear (NISM Series V-A) examination.

In 2024, AMFI started the' Fixed Income Mutual Funds Sahi Hai Campaign' to boost investment in debt mutual funds. AMFI felt that the majority still see mutual funds as an 'equity-only offering'.