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Launch Of AMFI’s Online Mutual Fund Transaction Platform Has Been Delayed Again

The scheduled launched for the Association of Mutual Funds of India (AMFI) online mutual fund transaction platform has been delayed once again, due to a delay in vendor selection. The launched was previously scheduled to go through on April, but has now been rescheduled to the second half of this year.

AMFI Online Mutual FUnd Platform

AMFI Online Mutual Fund Platform

According to Mr V. Ramesh, Deputy Chief Executive, AMFI, the platform would require 3 to 4 months to go to the floor, once vendor has been chosen. However, AMFI is yet to choose a vendor, which has led to a delay in the launch. Sources indicate that AMFI has already shortlisted nine qualified entities for this purpose.

Once implemented, AMFI’s online mutual fund transaction platform will allow mutual fund investors to transact more easily and improve accessibility to fund houses, through a single login ID. However, industry analysts detract that investors will likely miss out on distributor advice if the transact online.

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