Chandigarh: SBI Mutual Fund Saturday announced its strategic alliance with National Institute of Securities Markets (NISM) for conducting mutual fund distributors' (MFD) certification examinations at select learning centers.
"Through this initiative, we aim to achieve the objective of increased acceptance of mutual fund schemes amongst bank?s customers," SBI Funds Management Managing Director & CEO Deepak Chatterjee said here Saturday.
This alliance will also allow reach out to a wider set of prospective mutual fund investors in small cities and towns thereby further expanding the reach, he added.
Under the strategic alliance, SBI Mutual Fund has enabled select Learning Centres (SBLCs), of State Bank of India including four SBLCs of Associate Banks, to conduct the MFD certification examination for the benefit of State Bank Group (SBG) employees, including retired employees.
By holding these examinations at the State Bank Learning Centres, SBI employees will have the logistical advantage of appearing for the examination in-house.
SBI and Associate banks are the largest distributors of SBI Mutual Fund schemes.
NISM is an institute established by the Securities and Exchange Board of India (SEBI) to undertake securities markets education and research.
Sandip Ghose, Director NISM said, "The alliance is expected to provide twin benefits of increasing the number of MFD certified employees in 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."
First Published: Saturday, May 18, 2013, 21:11