<aside> <img src="/icons/forward_red.svg" alt="/icons/forward_red.svg" width="40px" /> SBI has the most Assets Under Management (AUM) and HDFC tops the list of private sector banks
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https://www.angelone.in/blog/analysis-of-india-top-100-mutual-fund-distributors-as-of-march-2023
| Sr. No. | Name of the ARN Holder | Distributor type | AUM (Rs. Crore) |
|---|---|---|---|
| 1 | State Bank of India | Bank | 1,44,301 |
| 2 | NJ IndiaInvest | ND | 1,24,025 |
| 3 | HDFC Bank | Bank | 96,729 |
| 4 | Axis Bank | Bank | 69,697 |
https://www.moneycontrol.com/news/business/personal-finance/meet-indias-20-biggest-mutual-fund-distributors-based-on-commission-earned-11287791.html
The biggest bank-based MFD, SBI, earned around 96 per cent of its total commission (Rs 873.6 crore out of Rs 905 crore) from its group company, SBI Mutual Fund.
The fund house is the biggest AMC in India with an AUM of Rs 8.25 lakh crore at the end of July 2023.