LOW MUTUAL FUND SELLING COMMISSION HITTING MILLIONS OF AGENTS REVENUE.
70% AGENTS LEFT THIS BUSINESS DUE TO LOW COMMISSION.
LACK OF UNITY IN AGENTS HITTING THERE INTEREST.
Mumbai: SEBI is reducing mutual fund entry load since last 10 years so that investors will benefit from it. The real fact is that the agents are not getting revenue to survive in the mutual fund advisory business. Many times they are not getting travelling cost to get the business. The agents are getting only 0.50 % commission on each selling. The average purchase is Rs5000 to 7000 per consumer.
As per RTI reply the SEBI officers are reducing the charges without any request from investors or consumers. The SEBI is making policies against consumer interest and hitting the mutual fund business.