The integration is expected to benefit investors in Tier 2 and Tier 3 cities by providing easier access to formal financial tools. ONDC, a government-backed initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), seeks to democratise digital commerce through an open, interoperable network.
UTI AMC will use the ONDC platform to offer its mutual fund products digitally.
ONDC’s financial services head Hrushikesh Mehta said the partnership with UTI AMC will help make investment access more inclusive through trusted digital platforms.
UTI AMC manages UTI Mutual Fund and operates under SEBI regulations. It also manages alternative investment funds through its subsidiary.
Earlier this month, Axis Mutual Fund also joined the Open Network for Digital Commerce (ONDC).
Axis Mutual Fund said the move aligns with its goal to promote financial inclusion. It hopes to remove traditional barriers and simplify the investment process.
Axis MF schemes are now available on ONDC through partner platforms like Cybrilla. The fund house said it will continue to use digital tools to empower investors and support long-term financial growth.