MF News AMFI to introduce grievance cell for MFDs

AMFI to introduce grievance cell for MFDs

MFDs can submit their grievances related to ARN renewal, ARN issuance and so on through this cell.

Nishant Patnaik May 28, 2023

Listen to this article

AMFI is planning to introduce a special grievance cell for MFDs, said NS Venkatesh, CEO, AMFI.

Venkatesh told Cafemutual the ARN committee is currently working on this project and very soon MFDs will be able to directly reach out to the AMFI with their grievance related to ARN renewal, ARN issuance and so on.

The AMFI CEO said that the team size of AMFI will be increased to 30 to take care of this task.

Currently, while MFDs can reach out distributors help desk of AMFI through CAMS, many MFDs have specific issues that can only be addressed by AMFI committee members. The move is expected to help such MFDs.

Like what you are reading?

Login to get instant access to this article and many other such articles on business development, success stories and industry updates.

Don't worry ... it's FREE!

Have a query or a doubt?
Need a clarification or more information on an issue?
Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

Latest Articles

Your bulletin for the day

‘Manufacturing sector to play a major role in India's GDP in the next decade’

MF quarterly AAUM just short of Rs.60 lakh crore

Indore's MFD Association appoints Rajesh Kulwal as the new president

Consolidated account statement in MFs to be sent through email as preferred mode: SEBI

Impact of inclusion of Indian Bonds in JP Morgan Index on debt funds

SEBI to introduce simple regulations to facilitate growth of passives

SEBI to allow fund houses to launch passive hybrid funds

Aditya Birla Sun Life AMC reappoints A Balasubramanian as MD and CEO

MFDs should avoid reaching out to SEBI officials for KYC related issues of clients: AMFI

Click to clap

Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.

8 Comments

Solomon Coutinho · 1 year ago `

Too little... Too late... Sudden frequent changes to Taxation, brokerages have dented MFD aspirations... Industry will survive not flourish... Mis-selling of insurance, crypto, MLM will increase.

AMFI will not survive if MFDs are removed. Initiative commendable but a decade late.

Anup Agarwal · 1 year ago `

Very good & commendable step. Hope it works without biases and MFDs get fair resolutions to their grievances.

MADHUSUDHANA PATTHI · 1 year ago `

nice implementation. Hope it will be use full for us.

Piyush Trevadia · 1 year ago `

Very good moove.

DEBRAJSENGUPTA · 1 year ago `

A good positive move especially the local CAMS office have limited bandwidth in terms of various updates happening at AMFI and may not apprise the MFDs of such changes/ clarify their queries to a great extent especially those MFDs hailing form B30 cities and many of them not so tech-savvy. This kind of platform can ease the tension of MFDs and can help them abide by the regulations etc. more transparently.

V.Seshamani · 1 year ago `

Goodiniative by AMFI. THANKYOU Hope Meaningful Redressal for MFDs from B30 cities Lastmileconnectivity in this Multiple Regulatory Envvironment.and whims &fancies of Point of Service Staffs.
V.SESHAMANI, ARN HOLDER

Hexagon Broking · 1 year ago `

Hope they respond too.. I have sent some mails at contact@amfiindia.com it went unanswered till date..

The Invest Quotient Financial Services · 1 year ago `

Absolutely welcomed move. We really needed one. I the cell functions to the truest spirit of the purpose, we should be able to go a long way. I have a suggestion though. Let there be a small team to look into the mundane regular issues related to the issue pertaining to renewals etc. We could be doing really good work if a team that could monitor the suggestions received to improve the working of the industry on the whole. This could be a game changer if taken forward.

More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.

POLL

MORE POLLS

As regards Portfolio Management Services (PMS), what is your status

Actively selling PMS

Not selling PMS but considering it seriously

Not selling PMS and not considering it either

EVENTS FORUMS