AMFI to Expand Mutual Fund Training and Financial Literacy Programs to Chhattisgarh and Gujarat

The Association of Mutual Funds in India (AMFI) is preparing to expand its mutual fund training programmes to Chhattisgarh and Gujarat. This follows the successful completion of pilot training initiatives in Andhra Pradesh and Bihar, where more than 19,500 students cleared the investor awareness test.

Venkat Chalasani, Chief Executive of AMFI, stated that the association also plans to roll out its Tarun Yojana programme across 15 districts. The initiative aims to target students in Classes VIII and IX to introduce them to basic financial concepts through simple lessons and assessments before they undertake the Securities and Exchange Board of India's Investor Awareness Test (SIAT).

Currently, AMFI has adopted four states—Andhra Pradesh, Bihar, Odisha, and Meghalaya—employing different execution models to educate students on mutual funds and career opportunities within the sector.

In Andhra Pradesh, AMFI collaborated with IIM Visakhapatnam and state education authorities using a train-the-trainer model. A total of 54 professors and lecturers across 27 districts were trained through an immersion programme, who subsequently taught over 12,000 final-year students over four months. Chalasani noted that all participating students successfully cleared the SIAT, which is conducted by the National Institute of Securities Markets (NISM).

In Bihar, the association utilized students from IIM Bodh Gaya as ambassadors to conduct educational sessions in schools and colleges, resulting in more than 7,500 students clearing the SIAT.

Building on these models, AMFI has partnered with IIM Meghalaya and XIM University in Bhubaneswar. Discussions are currently underway with IIM Raipur for implementation in Chhattisgarh, while explorations are ongoing with IIM Ahmedabad for a collaboration in Gujarat. AMFI is also working alongside asset management companies to drive financial literacy among students.

Meanwhile, a separate pilot project aimed at training postmen to act as mutual fund distributors has been temporarily placed on hold. The Department of Posts is currently reviewing the training programme, while both entities work to address legacy know-your-customer (KYC) issues prior to resuming the rollout.

"Expanding financial literacy early in the education cycle, as seen with AMFI's institutional partnerships, creates a strong foundation for the future of India's financial markets. By working with academic institutions like IIMs to train educators and students, organizations can systematically scale awareness at the grassroots level. While administrative hurdles like KYC reviews temporarily pause distribution pilots, the long-term economic value generated by educating young students on financial fundamentals remains a vital step for the industry's growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes