The Association of Mutual Funds in India (AMFI) plans to expand its mutual fund training programme to Chhattisgarh and Gujarat after achieving significant success in other states. According to reports from The Hindu BusinessLine, the association has already trained more than 19,500 students in Andhra Pradesh and Bihar who successfully cleared the Securities and Exchange Board of India's Investor Awareness Test (SIAT). Venkat Chalasani, Chief Executive of AMFI, confirmed the expansion plans during an interaction with businessline. The association has adopted four states — Andhra Pradesh, Bihar, Odisha and Meghalaya — using different models to train students on mutual funds and career opportunities in the sector.
In Andhra Pradesh, AMFI partnered with IIM Visakhapatnam and state education authorities to implement a train-the-trainer model. As reported by The Hindu BusinessLine, the association identified 54 professors and lecturers across 27 districts and trained them through an immersion programme. These trained professionals subsequently taught more than 12,000 final-year students over four months, with all students clearing the SIAT conducted by the National Institute of Securities Markets (NISM).
In Bihar, AMFI trained students from IIM Bodh Gaya as ambassadors to conduct sessions in schools and colleges. According to The Hindu BusinessLine, more than 7,500 students cleared SIAT under this model. The association has also partnered with IIM Meghalaya and XIM University in Bhubaneswar. For the upcoming expansion, discussions are underway with IIM Raipur for Chhattisgarh, while a collaboration with IIM Ahmedabad is being explored for Gujarat.
AMFI plans to pilot its Tarun Yojana programme in 15 districts, targeting students in Classes VIII and IX to teach them basic financial concepts. As reported by The Hindu BusinessLine, under this initiative, students will learn financial fundamentals through simple lessons and assessments before being introduced to SIAT. The association has also been working with asset management companies to adopt financial literacy programmes among students.
A pilot programme to train postmen as mutual fund distributors has been temporarily put on hold while the Department of Posts reviews AMFI's training programme. According to The Hindu BusinessLine, in the interim, AMFI is working with the department to resolve legacy know-your-customer (KYC) issues before the initiative can be rolled out. The association has adopted four states — Andhra Pradesh, Bihar, Odisha and Meghalaya — using different models to train students on mutual funds and career opportunities in the sector.
