The SEBI, BSE Institute, AMFI and NISM, supported by SBI Foundation have started a new skill development initiative for youth in the Jammu and Kashmir valley according to a release dated August 12.
Nearly 3,000 candidates hailing from across ten districts in Jammu Division and 9 districts in Kashmir Division participated in the training program conducted by BSE Institute over the duration of the past one year according to the release.
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Earlier this year a special training session for National Institute of Securities Markets series- V(A) certification exam for Mutual Fund Distribution was conducted in Srinagar.
Nearly 100 students have cleared the exam and have been allotted an AMFI Registration Number (ARN), which is necessary to distribute Mutual Funds.
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Lt. Governor of the UT of Jammu and Kashmir, Shri Manoj Sinha, and SEBI Whole Time Member, Shri Ashwani Bhatia, gave away the certificates to successful candidates on August 5.
Ten Asset Management Companies(AMCs) also empanelled successful candidates on the spot. A few AMCs have also taken the initiative to enroll select candidates as ‘Intern Mutual Fund Distributors’ under the Regulatory Sandbox Initiative.
Under the intiativbe the candidates will be tied agents for that AMC and will also be given a stipend and training for one year to help them become mutual funds distributors.
The Lt. Governor appreciated the support from SEBI, BSE Institute, SBI Foundation, AMFI and the Mutual Fund industry. He lauded them for engaging with the students and the youth on financial education.
The 'Lt. Governor' commented on the development and went on to call the decision by the mutual fund houses to empanel the successful candidates as a 'step in the right direction'.
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