Nippon India MF sets foot in Leh to deepen financial inclusion, expand in border regions

Leh: In a bid to deepen financial inclusion, Nippon Life India Asset Management Ltd has opened a branch in Leh and is looking to expand its presence in border areas, its CEO Sundeep Sikka said.

With this, Nippon Life India Asset Management (NAM India) — promoted by Japan’s Nippon Life Insurance Company — becomes the only asset management company in the country to establish a physical presence in such a high-altitude region.

This marks NAM India’s 167th branch and its presence in 266 pin codes across the country. Explaining the reason for opening the branch, Sikka said Ladakh, a Union Territory known for its breathtaking landscapes, has seen a surge in tourism and economic activity in recent years. However, the region’s financial landscape remains relatively underdeveloped, with limited access to a diverse range of investment products.

The average assets under management (AAUM) in Jammu & Kashmir and Ladakh stood at Rs 10,844 crore as of June 2025, accounting for less than 0.14 per cent of India’s total mutual fund assets. In contrast, India’s overall mutual fund AAUM reached a staggering Rs 74.80 lakh crore during the same period. “With a presence in Leh, Ladakh, Nippon India Mutual Fund aims to bridge the financial literacy gap, develop a healthy mutual fund ecosystem and offer local residents the opportunity to participate in the Indian capital markets,” Sikka said.

The company plans to open more branches in India’s border regions that often face limited access to formal financial services, the chief executive said.

However, he did not specify a timeline for the rollout of additional branches.