ANMI plans to double retail investor base to 2.5 cr by 2016

Written by PTI | New Delhi | Updated: Mar 22 2013, 19:08pm hrs
Stock marketANMI comprises the trading members of all the leading bourses in the country. (Reuters)
The Association of National Exchange Members of India (ANMI) today said it is aiming to double the retail investor base in the country to over 2.5 crore in the next three years.

Currently, the retail investor base in India is at 1.3 crore.

"... plans to double the retail investor base in India by 2016 from an existing 1.3 crore to over 2.5 crore through a series of direct and indirect measures and endeavours," ANMI said at Asia Forum for investor Education (AFIE) Conference.

ANMI, which comprises the trading members of all the leading bourses in the country, said this target can be achieved by increasing banking facilities among others.

Speaking on the occasion, AFIE President Rakesh Somani said: "ANMI believes that increased sophistication of product offerings is widening the gap of investor understanding."

"The objective of ANMI is to move to create a base of retail investors who are financially aware of working of the financial market before they educate them of investing in sophisticated products. ANMI is working closely with the SEBI and AFIE to create investor awareness of financial products," he added.

He also said that government, Reserve Bank and capital market regulator have been taking various steps which would help in widening the investor base in the country.

"RBI's plan to expand the number of bank branches to 82,000 by 2020, new investment products by Mutual Funs and exchanges aimed at the youth and low age earners and the over 2 lakh pan India brokerage terminals, would substantially

contribute towards our mission to double the number of demat accounts," Somani said.

The event was attended by many international delegations from countries like Cambodia, China, Hong Kong, Japan, Nepal, Sri Lanka, Taiwan, Thailand and Turkey.