MICROCAPITAL BRIEF: Franklin Templeton Investments Launches Financial Inclusion Drive in India

Franklin Templeton Investments India, the Indian division of a Us-based mutual fund company Franklin Templeton Investments, in partnership with the Security Exchange Board of India (SEBI), the regulator for the securities market in India, reportedly has launched a financial inclusion campaign aimed at enlightening people on the mutual funds industry in India’s Rangareddy district. Under the campaign, educators will be deployed in the district to inform the public about investment opportunities in mutual funds. The drive was launched after research by the Association of Mutual Fund Industry (AMFI), a non-profit association of mutual funds in India, showed “high bank penetration and little awareness of mutual funds” in the general public of India.

The implementation of the drive follows a similar financial inclusion programme that was launched in June 2014 in which SEBI approved the a socio-venture scheme managed by the Institute for Financial Management and Research Trust (IFMR Trust) of India that provides “long-term” funding to microfinance institutions (MFIs) in the country in the form of senior and subordinated debt instruments.

Franklin Templeton Investments is a mutual fund company that was established in India in 1996.It has 225 schemes in the country with a total portfolio of INR 51,928 crores (USD 8 billion) as of December, 2013.

By Hope Gitangu, Research Associate

About Franklin Templeton Investments

Franklin Templeton Investments is a mutual fund company that was established in India in 1996. In July 2002, Franklin Templeton India acquired Pioneer ITI, a fund house in India. It has 225 schemes with a total portfolio of INR 51,928 crores (USD 8 billion).

Sources and Additional Resources

[1] Franklin Templeton Launches Financial Inclusion Drive in Telangana
http://www.thehindubusinessline.com/markets/franklin-templeton-launches-financial-inclusion-drive-in-telangana/article6189678.ece

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