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Thursday, December 9th, 2021

SBI Mutual fund in tie up with National Institute of Securities Markets to conduct MFD certification examination

M.M.Khanna, INVC, Chandigarh,National Institute of Securities Markets,NISM,Mutual Fund Distributors’,MFD, certification examinations ,Securities and Exchange Board of India ,SEBI,State Bank of India ,Deepak Chatterjee, Managing Director & CEO, SBI Funds Management Private Limited,Deepak Chatterjee, Managing Director & CEO, SBI Funds Management Private Limited,  Sandip Ghose, Director NISM, N K Chari, Chief General Manager, SBI Chandigarh Circle,Sandip Ghose, Director NISMM.M.Khanna, INVC, Chandigarh SBI Mutual Fund, one of the oldest and trusted Mutual Fund houses today announced its strategic alliance with National Institute of Securities Markets (NISM) for conducting Mutual Fund Distributors’ (MFD) certification examinations at select Learning Centers (SBLCs) of SBI and Associate banks. SBI Mutual Fund aims to achieve twin benefits through the strategic alliance. One, it would enable a large force of existing and retired bank employees to get trained to advise and sell Mutual Fund schemes and secondly, through them it would reach out to a wider set of prospective Mutual Fund investors in Tier II, III cities, thereby further expanding the reach. NISM is an institute established by the Securities and Exchange Board of India (SEBI) to undertake securities markets education and research. It certifies individuals to advise and sell mutual fund products to the investors in the Indian market. Through the initiative, SBI MF aims to leverage the largely unexplored and untapped talent including the retired employees to enable them, through training, to sell Mutual Fund schemes and reach out to wider set of investors in Tier II, III cities. 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. On passing the MFD examination, it will be possible for them to sell schemes of SBI Mutual Fund to the customers of the Bank. SBI and Associate banks are the largest distributors of SBI Mutual Fund schemes. As a learning support to pass the examination, two day training is being provided to the aspiring candidates by SBI Mutual Fund. Speaking on the occasion, Shri Deepak Chatterjee, Managing Director & CEO, SBI Funds Management Private Limited said, “An efficient, well-informed and customer-centric distribution network is the best way to tap potential investors in Tier II and Tier III cities. Through this initiative we aim to achieve the objective of increased acceptance of mutual fund schemes amongst the bank’s customers. This is also our way to contribute in making Mutual Funds a widely-acceptable asset class, especially in Tier II and Tier III cities.”  An inaugural function was held here today at SBLC Panchkula, Chandigarh to mark the beginning of conducting MFD examinations at the SBLCs. Shri Deepak Chatterjee, Managing Director & CEO, SBI Funds Management Private Limited, Shri Sandip Ghose, Director NISM, Shri N K Chari, Chief General Manager, SBI Chandigarh Circle, and other senior officials of SBI and State Bank of Patiala attended the inaugural function. Shri Sandip Ghose, Director NISM said, “The alliance is expected to provide the twin benefits of increasing the number of MFD certified employees in the 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. It will thus help to further the common objectives of SBIFM and NISM, i.e. to spread capital market education and increase the number of well informed and learned distributors of mutual fund products.”

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