ONDC is a central government initiative launched in December 2021, which aims to transform digital commerce through an open and interoperable framework to enhance retail e-commerce in India.
Partnership to expand MF products in low-income groups
HDFC AMC said its partnership with ONDC will improve access to mutual fund investment products, particularly in underserved regions of India.
The company will address barriers to investment, including low income and limited access to financial tools, by providing mutual fund distributors with a broader range of options, including smaller investment amounts.
“By leveraging ONDC’s open protocol, the initiative will bring mutual funds closer to the masses, enabling more first-time investors to participate in India’s growth story,” HDFC Mutual Fund’s investment management unit said in a statement.
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First published: October 21, 2024 17:05 IS
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