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SEBI to launch 2,000 super-ATM centres in 12-18 months
By   |   Tuesday, 16 February 2010, 23:29 Hrs   |    2 Comments
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SEBI to launch 2,000 super-ATM centres in 12-18 months
Mumbai: To help mutual fund industry to grow at faster rate, Market regulator, Securities and Exchange Board of India (SEBI) plans to launch 1,500-2,000 super-ATM centres across the country in the next 12-18 months, reports PTI.

KN Vaidyanathan, Executive Director, SEBI 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."

At all the ATMs, investors will be able to transact and get all the information about mutual fund schemes. It will also send queries and receive information as well. Talking about the growth of mutual fund industry, Vaidyanathan said, "MF industry is expected to grow from 3 lakh crore to 30 lakh crore in the next five years. The number of shareholders accounts will also grow from two crore to five crore in the next 5-years. A total savings of $1.9 trillion would be seeking avenues for investment by 2015."

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Reader's comments(2)
1: Hope it helps people to understand MF schemes in better way.
Posted by:kraun - 17 Feb, 2010
2:
Instead of ATM centres having already long queues, shouldn't there be online portals (including the indices) which people should be encouraged to log into for such information?

Or even the mobile phone?

The ATM is a necessity because there is a need for something to dispense cash. Why is it necessary for "information"?
Kaushik Replied to: kraun - 18 Feb, 2010
Beautiful and dress selection, please go to Dresses
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