The event commenced on March 19 in Bhopal and is ongoing for six months. The cities targeted for the event, apart from Bhopal, are Hyderabad, Ahmedabad, Chittorgarh, Ranchi, Jharkhand and Bhankura. The initiative also plans to tap the market in Tamil Nadu and Maharashtra, commencing from the first week of April.
Eight 'Mutual Fund ki Paathshala' mobile vans are reaching out to the youth; equipped with educational literature and an audio visual system that screens 'Benefits of Investing in Mutual Funds'. The pan-India investor awareness campaign is expected to reach out to over 1,50,000 investors spread across more than 300 tier I, II and III cities of India.
Over 3,000 camps workshops are being conducted to reach out to prospective investors through low-cost classroom intervention. These vans will also target melas, folk shows, religious gatherings, festivals, and cinema houses, in addition to the regular shopping, residential and corporate hubs in various cities. For better understanding of Mutual Funds, a mascot, the SBI MF Fund Guru, has also been created to help de-jargonize mutual funds.
Commenting on the event, Deepak Chatterjee, MD, SBI Mutual Fund said, "Our investor education campaign focuses primarily on the twin objectives of appealing to investors to participate and benefiting from the Indian growth story."
Chatterjee further added: "Traditionally, Indian investors allocate savings in a very conservative manner, mostly through fixed deposits and postal savings. The returns may not be commensurate with the emerging needs and requirements, and also not comparable to other asset classes, including equity. While there has to be attitudinal shift from just being 'savers' to 'investors' and the rationale needs to be changed, there are people in tier II and III cities who have the capacity but due to the lack of knowledge, end up investing in products which do not keep up with inflation."
Speaking about Swastika's role at the event, Amit Verma, Director, Swastika Entertainment said: "We are responsible for executing and managing the event. We won the tender on the basis of the presentation of the on-ground activity conceptualization and detailing of the activity. Other companies who pitched for the tender were Percept D Mark, R W Promotions, and Posterscope amongst others."