HDFC Asset Management Company Limited (HDFC AMC) has recently joined the Open Network for Digital Commerce (ONDC), becoming one of the pioneering asset management companies to offer its mutual fund products on the platform. Launched by the central government in December 2021, ONDC aims to revolutionise digital commerce in India by introducing an open, interoperable framework to boost retail e-commerce.
Through its collaboration with ONDC, HDFC AMC aims to expand the availability of mutual fund investment products, particularly in underserved regions of India. By offering a wider array of options, including options for smaller investment amounts, the company seeks to overcome barriers to investment such as low incomes and limited access to financial tools for retail investors.
The integration with ONDC supports HDFC AMC’s overarching goal of becoming the foremost wealth creator for all individuals in India. By utilizing ONDC’s open protocol, this initiative will make mutual funds more accessible to a wider audience, allowing novice investors to participate in India’s economic advancement.
This collaboration with ONDC will also help address three common obstacles to investment that many in India face, such as low incomes, irregular cash flows, and limited access to financial resources. Through the ONDC Network’s open protocol, the reach to a larger investing population will be enhanced by offering mutual fund investment products. This will empower every individual, regardless of their income level, to take the initial step towards financial inclusion and wealth generation.
One pivotal aspect of this initiative is its ability to reach a wide audience, particularly benefiting rural and low-income households who can invest in small increments. This marks a significant milestone in expanding access to mutual funds and fostering financial growth and wealth creation on a larger scale.
Navneet Munot, MD & CEO of HDFC AMC, stated, “At HDFC AMC, we are strongly committed to financial inclusion. By joining forces with ONDC, we’re not just offering a new investment channel; we’re democratising wealth creation. This Network allows us to reach every corner of Bharat, transforming small savings into meaningful investments. This is in line with our ambitious mission to be the wealth creator for every Indian.”
T Koshy, MD & CEO of ONDC, said: “HDFC AMC’s integration with ONDC Network is a leap toward democratizing financial access by unbundling the financial journey — breaking down traditional silos, making financial products more visible, accessible, and interoperable across platforms. This seamless access empowers individuals—regardless of geography or income — to participate in wealth creation. By enabling affordable, bite-sized investments and expanding reach to underserved communities, this initiative fosters financial independence, promotes long-term value creation, and paves the way for inclusive growth.”