Summary:
PGIM India Asset Management has partnered with Cybrilla Technologies to join the Open Network for Digital Commerce (ONDC), aiming to make mutual funds more accessible and affordable across India. The move focuses on empowering distributors, fintechs, and investors in smaller towns and rural markets, driving financial inclusion through innovative formats like micro-investments and daily SIPs.
Expanding Reach Through ONDC
In line with its digital-first strategy, PGIM India AMC has integrated with the ONDC network, leveraging open digital infrastructure to extend the reach of mutual fund products beyond urban hubs. The initiative is designed to lower barriers to entry for underserved investor segments.
Focus on Small-Town and Rural Investors
By reducing distribution costs and enhancing transparency, the partnership aims to empower:
- Local distributors and entrepreneurs with cost-efficient tools.
- Tier 2, Tier 3, and rural investors who have traditionally been underserved in mutual fund access.
The approach is expected to help new investors participate in wealth creation with greater confidence.
Leadership Commentary
Abhishek Tiwari, CEO of PGIM India AMC, said:
“By joining ONDC with Cybrilla, we are opening doors for inclusive and equitable investing. Our mission is to ensure that every Indian—regardless of location or income—can access mutual funds with ease and transparency.”
ONDC’s Role in Financial Inclusion
ONDC, backed by the Ministry of Commerce and Industry, offers an interoperable digital framework that simplifies processes like KYC, payment gateways, and onboarding. This infrastructure enables innovations such as daily SIPs, micro-investments, and goal-based financial plans, tailored for new-age investors.
Building Trust and Innovation
With ONDC’s reach and Cybrilla’s backend technology, PGIM India is reimagining mutual fund distribution. Vibhor Jain, Acting CEO & COO at ONDC, highlighted that this move demonstrates how open networks can deliver practical, inclusive solutions, making investing simpler and more accessible across India.
Disclaimer:
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