HDFC AMC Joined the ONDC Network to Democratise Access to Investment Products for Mutual Funds Throughout India

News Desk, News Nation 360 : As one of the first Asset Management Companies (AMCs) to collaborate with this ground-breaking network, HDFC Asset Management Company Limited (HDFC AMC) is pleased to announce its onboarding on the Open Network for Digital Commerce (ONDC). The ONDC Network has the potential to completely transform the distribution of investment goods by giving mutual fund distributors access to a wider variety of AMCs and vice versa. To democratise access to mutual fund investment products nationwide, this integration represents a major turning point in the financial services industry. The initiative's ability to reach a large audience is crucial. This might be a game-changer for low-income and rural households, who can invest in modest quantities. This will be a significant step in advancing mutual funds to support widespread wealth development and financial prosperity. HDFC AMC's overarching goal of becoming the wealth builder for all Indians aligns with the integration. The project would make mutual funds accessible to the general public by utilising ONDC's open protocol, allowing more novice investors to participate in India's economic development. Low salaries, erratic cash flows, and restricted access to financial tools are three frequent obstacles to investing that a sizable section of India's population faces. The integration with ONDC will help address these issues further. By providing mutual fund investment products, the open protocol of the ONDC Network will aid in expanding its reach to a sizable investing population. This will enable everyone to start along the path to financial inclusion and wealth building, regardless of income level. Navneet Munot, MD & CEO of HDFC AMC, stated that they at HDFC AMC have a strong commitment to financial inclusion. By collaborating with ONDC, they're democratising wealth generation in addition to providing a new avenue for investment. They can reach every part of Bharat thanks to this network, turning modest savings into significant investments. This is consistent with their aspirational goal of generating wealth for all Indians.