In order to enhance the circulation of mutual fund across the rural parts of the country, SBI mutual Fund launched 51 new branches in day. The fund acquires for about Rs 65,000 crore assets under management.
Managing director of SBI mutual fund reported that they want to reach out the people in towns where the people are lacking in these facilities and provide them something other than fixed deposits and saving accounts.
The products of SBI fund will be an offer for the customers, the company will assure that they guide the customers about the risks associated with the products. Initially they will begin with providing liquidity scheme to the customers, fixed maturity plans and capital protection. Fund has established 55 new branches since September 2012, but has not received a good response.