UTI Mutual Fund has announced its integration with the Open Network for Digital Commerce (ONDC) Network in collaboration with Cybrilla, a leading financial technology solutions provider, according to an official statement by the fund house.
This strategic move by UTI Asset Management Company (UTI AMC) aligns with the fund house’s commitment to promote financial inclusion and democratize access to investment products.
How will ONDC onboarding for UTI Mutual Fund help investors?
“Through ONDC, UTI Mutual Fund aims to make mutual fund investments more accessible to individuals across India, particularly in Tier 2 and Tier 3 cities, where a lack of access to formal financial tools are persistent,” UTI AMC, one of India’s leading mutual fund houses, said.
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Vinay Lakhotia, Chief Financial Officer at UTI AMC, said, “This integration reflects our ongoing commitment to financial inclusion. We are delighted to bring our investment products to the larger investor community and empower first-time investors, while making mutual fund investment products accessible to all. This collaboration will help us provide an equal opportunity to participate in India’s growth story and be a trusted partner for wealth creation.”
Hrushikesh Mehta, SVP — Financial Services at ONDC said, “With UTI AMC coming onboard the ONDC Network via Cybrilla, we’re taking a meaningful step toward making investment access more inclusive and infrastructure-led. This collaboration reflects the kind of innovation we aim to foster — where trusted institutions like UTI can reach individuals who’ve traditionally been outside the fold of formal finance, not by creating new barriers, but by removing them.”
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ONDC is an initiative by DPIIT, Ministry of Commerce, to democratise digital commerce by establishing an interoperable open network for digital transactions. By leveraging ONDC’s open protocol, UTI AMC will enable first-time investors — especially from low-income and rural communities — to access mutual fund products and take meaningful steps towards financial independence.