The foundation of the MF industry is very strong and the only thing that can shake it is the individual misdemeanour, therefore, there are talks of the Association of Mutual Funds in India (AMFI) having an ethics committee, in whatever form or manner, and for that committee to take action against those doing wrongdoings in the market on a self-regulatory basis, she added.
She expressed confidence in the industry’s potential to expand from its current size of Rs 40 lakh crore to around Rs 100 lakh crore.
Further, Buch said, technology is an important aspect that helps the industry to function in an efficient way and be cost effective at the same time.
She noted that the MF industry itself has not invested in building any core technology.
“The industry itself has not invested much in building core technology. I worry for you on that count. I would urge you to invest in the systems and technology,” she added.