The number of Demat accounts were as low as 2.54 crore as on March 31, 2016.
Involvement in mutual funds is also minuscule. The regulator SEBI will discuss with various stakeholders the issues such as revisiting the distribution strategies and facilitating the ease of operations.
There is ongoing consideration to replace the Rajiv Gandhi Equity Savings Scheme (RGESS) with a suitable & more tax efficient alternative.
The RGESS was aimed to increase the retail response to equity markets through direct route and through mutual funds.
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