By: Basudha Das
Banks and bank-associated brokers are the biggest winners in India's mutual fund distribution ecosystem, earning an average ₹126.6 crore in annual commissions per entity in FY2024-25—far ahead of fintech platforms, wealth managers and independent distributors, according to a 1 Finance analysis of AMFI data. The study highlights a sharp concentration in commission income, with just 1.5% of distributors accounting for 77.2% of the industry's ₹27,335-crore commission pool.












