New Delhi, Aug. 23 -- As mutual fund participation expands beyond traditional investor segments, SEBI Chairman Tuhin Kanta Pandey has stressed the need for stronger governance and oversight, while calling for products, distribution and communication to adapt to the growing participation of first-time investors and people from smaller towns.

Speaking at the 31st foundation day of the Association of Mutual Funds in India (AMFI) in Mumbai, Pandey underlined the growing role of mutual funds in channelising household savings into the productive economy.

"Mutual funds perform a dual role - helping households participate in India's growth and channelling their savings into the productive economy," said Tuhin Kanta Pandey, Chairman, SEBI.

He a...