Latest news with #Siliguri-based
Time of India
6 days ago
- Business
- Time of India
How small-town mutual fund distributors built AUMs of hundreds of crores and a new class of equity investors
Academy Empower your mind, elevate your skills Small change, big exchange Beyond FDs: New frontiers Converting doubt and delays In 2015, Prabin Agarwal, a Siliguri-based mutual fund distributor (MFD), sought to rapidly expand his business. He had already been conducting investment awareness programs (IAP), but he wanted a bigger push. Billboard advertisements were a great idea, but expensive. His budget was low. He hit upon an engaged with hoarding agencies (billboard owners) for multi-layer flex printing technology. This is a clever advertising strategy where Agarwal sought to have his campaigns printed on a base layer and installed them as the permanent base layer directly on the billboard's mounting advertisers would mount their campaigns as temporary overlays, on top of his base advertisements, so that they could be removed after their contracts were over. When the premium advertisers' campaigns ended and were removed, Agarwal's base layer advertisement became visible again, gaining 'free' exposure during the transition periods. It cost him less than the premium rates for front-layer visibility. Persistence paid off, as his advertisement though often hidden, reappeared during campaign changeovers — all at a fraction of the a form of guerrilla advertising that maximises reach while minimising costs, perfect for MFDs trying to build brand recognition in smaller markets. This low-cost strategy reflects the resourcefulness of MFDs in driving financial inclusion in India's smaller towns and a perfect example of how they've had to think creatively to compete with larger players while serving markets often overlooked by bigger not just the larger cities of India that bring in mutual fund distributors . Small towns — beyond the top 30 cities (B30) in MF industry parlance —also bring in significant inflows. Nearly 19%of the overall Assets Under Management (AUM) of MFs came from B30 towns as of March 2024, up from 15.3% in March 2019, as per AMFI-Crisil Factbook 2024. Assets from B30 locations increased from Rs.13.28 trillion in May 2025 to Rs.13.80 trillion in June 2025, representing a 4% rise. 'We have seen a lot of hunger in these guys,' says Kalpen Parekh, Managing Director and CEO, DSP Mutual Dev Patel, an MFD from Korba, a small town with a population of 3.63 lakh, in Chhattisgarh. Patel had a hard upbringing. His mother passed away when he was small, and he moved in with his uncle and aunt, who raised him. Due to financial constraints, when he was in Class 6, he started distributing newspapers at 5 am to 75 houses, which earned him Rs.300 a month. When he entered class 8 at school, he took on another part-time job at a garment shop, working from 5 to 10 pm, making an additional Rs.700 per month. The family didn't have the money to pay for his education after he passed his 12th exams, so he dropped out and took up a full-time job at Hindustan Unilever, selling soaps and other products to kirana stores. Patel was mindful of the many dacoities that had plagued Korba at the time; it put him at risk as well, as he had to transport cash from the kirana stores to his company. In 2002, he entered financial product sales, working with Sahara Corporation and Life Insurance Corporation ( LIC ) until 2013, before switching to mutual funds SiliguriFirst investments (two mutual funds + two stocks) at around age 16Became a sub-broker with Anand RathiAttended a seminar, got convinced that SIP is the way forward; organised an investment awareness camp at a hotel where 65 turned up, some of whom became clients; started mutual fund distribution (with 3 office staffers)Started billboard advertisementsStaff of 25 peopleRs.700 croreKorba is a mid-sized town renowned for its coal mines and power plants, including those operated by NTPC (National Thermal Power Corporation) and the Chhattisgarh State Electricity Board. Patel says that nearly 90% of his clients are government sector employees. He says that initially, lump-sum money was scarce, so he encouraged all his clients to start systematic investment plans (SIPs). 'I imbibed goal-based investing , not newsbased investing,' says Patel, who says that 95% of his MF inflows come in equity incidentally, is the strategy many small-town MFDs follow. Avnish Bhatnagar, Director & Co-Head of India Retail Sales at Franklin Templeton, says that as we travel deeper within India, MFs are still closely associated with equities. 'There is not much understanding of hybrid and fixed income MF schemes,' he says. He explains that most investors in small towns are already well-invested in FDs and small savings. What's been missing from their portfolios was equities, and that is where equity MFs come who couldn't complete his education, today manages Rs 115 crore worth of his clients' money. Korba manages assets worth Rs.4,022 crore as of June 2025, ranking 136th among Indian towns in mutual fund investments, according to CAMS, one of India's largest registrar and transfer Kothari, co-founder and CEO, ZFunds, a platform that empanels distributors, says that investors in small towns are getting younger and wealthier. He says that it's easy for someone in their 20s to open an account on one of the several digital platforms that sell MFs and start a Rs.500-1,000 SIP. But when her portfolios become worth, say Rs.50 lakh, she needs some serious advice. Kothari says that rural India is no longer necessarily poor or started financial distribution business; (equity IPO, Unit Trust of India, fixed deposits and small-savings)Father got AMFI licence and started selling mutual fundsAnand and his brother (Gopal Zinzuvadia) joined the businessMutual fundsEquity stock brokingOver Rs.280 crore(approximately Rs.140 crore from Amreli and surrounding towns, Rs.140 crore from other cities and states across India)Siliguri's Agarwal says SIP sizes in small towns have grown from Rs.5,000-10,000 to much larger amounts, including Rs.2 lakh from a family of four, with some also investing in cryptocurrencies. 'The crypto craze peaked 2-3 years ago, with many local chartered accountants calling me to understand its taxation,' he adds. To put it in perspective, with a total AUM of Rs.9,715 crore as per data by CAMS, Siliguri is ranked 65th in terms of AUM in India. In fact, Parekh states that small towns have substantial NRI (non-resident Indian) wealth. This transformation has pushed local MFDs to not just embrace technology for customer service, but also master asset allocation and wealth management. The old stereotype of the briefcase-carrying LIC agent is well and truly Pratap Jain operates from Tinsukia, a remote town in Assam, located near the border with Arunachal Pradesh. Don't let the geography fool you about local ambitions. This ex-Oracle employee had a job offer in Cyprus but chose to return to his hometown in 2005 instead. He walked into DSP Mutual Fund's Mumbai office for guidance, and soon launched his own distribution business. Jain adopted technology faster than many others at the time. He once cut CDs with India growth story presentations to convince people to invest in MFs. Now fully digitised, Jain says most of his clients were first-time MF investors who, despite setbacks like the 2008 crisis, have grown into HNIs. Tinsukia's AUM stands at Rs.3,642 crore, ranking 150th in distributors, like Anand Zinzuvadia, 40, have taken their family business forward. His late father had started his financial distribution business in 1988, selling equity IPOs (initial public offering), Unit Trust of India, fixed deposits and small savings. In 2001, he diversified to selling MFs and insurance policies when private insurance companies started to make inroads. Zinzuvadia joined the family business in 2004 to sell MFs, while his brother Gopal handled equity broking, facing a major hurdle in low financial selling newspapers (early mornings) earned `300 a month; in Class 6 that timeTook up additional part-time job at a garments shop (5-10 pm); Class 8 at schoolPassed Class 12 and quit education due to constraints; took up full-time job at Hindustan Unilever, became a Sahara Corporation agent selling FDsLIC agentPassed AMFI's Mutual Fund distribution selling mutual fundsRs.77 lakh per monthRs.115 crore'In those days, people used to earn 10-12% in FDs. Convincing people of volatility and long-term returns was tough,' says Zinzuvadia. He recalls that businessmen and professionals, such as doctors and lawyers, knew better than an absolute lay investor, although they, too, were hesitant back then. He tried a novel approach. He started investing his own money in MFs and then showed his account statements to his potential clients. Over time, compounding showed. Numerous IAPs and visits to homes later, Zinzuvadia managed to convince people to invest 20-30% of their FDs that would have otherwise been redeemed. It all started with lumpsum investments of as little as Rs.1,000 and SIPs of around Rs.500. As markets rewarded long-term investors, trust grew. He tells us the tale of one of his clients who started off with Rs.1,000 SIP in 2008 and who now invests Rs.60,000 a month in SIP. Today, the same investor's portfolio is valued at Rs.1.5 still conducts IAPs regularly. On 28 June, his IAP drew 1,400 people to his hometown of Amreli, Gujarat, a city with a population of two lakh. From around 18,000 new SIPs registered in Financial Year 2023, Amreli saw little over 47,000 registered in 2024-25, as per CAMS data. In terms of AUM, it ranks 194th in India, with Rs.2,503 crore as of June small-town distributors had an additional challenge of having set up their businesses at a time when cheques took a longer time for clearances and forms had to be sent to mutual fund offices far away. From the introduction of At-Par cheques in the 1990s-2000s to the Speed Clearing system introduced in the early 2000s, and the modern Cheque Truncation System first introduced in 2008, MFDs in smaller towns had to bridge not just the financial literacy gap but also the technology job at Oracle and moved to hometown Tinsukia; started mutual fund distribution at age 23; rising equity markets helped garner panicked after the global credit crisis and market crash; adopted technology to make selling to goal-based financial planning and started recommending SIPsDemonetisation breakthrough: Doubled AUM from Rs.10 crore to Rs.20 crore in 9 months as clients shifted from real estate/FDs to MFsLeveraged tech during Covid for new clients & emergency liquidity; Rs.80 crore AUM by March 2022: Over Rs.200 crore (up from Rs.100 crore as on June 2023)'India's entrepreneurs, from small towns to big cities, have been creating and monetising businesses, especially in recent years. As the older generation passes the baton and capital flows surge into diverse sectors, many families are witnessing significant wealth creation. At the same time, robust market returns are pulling NRIs back to invest in Indian equities. This twin trend has created a massive demand-supply gap for professional wealth management. In smaller cities, sincere and passionate MFDs are stepping up to help these families build disciplined, long-term portfolios. It's a golden opportunity for trusted advisors to make a real difference,' says Parekh.
News18
18-07-2025
- News18
Bengal CID arrest three from Gujarat for duping Siliguri man
Kolkata, Jul 18 (PTI) West Bengal CID has arrested three persons from Gujarat for their alleged involvement in duping a Siliguri-based man of several lakhs in the pretext of giving him a higher return, an officer said on Friday. All three persons were arrested in Surat on Wednesday by a team of state CID after the victim Rajesh Jaiswal lodged a complaint of losing Rs 47.5 lakh after investing the amount through an online site for higher return. 'The accused trio created a fake website and communicated with the complainant through WhatsApp using virtual numbers of different countries. They managed to convince Jaiswal to invest the money by making false promises of higher returns," the officer said.. The three are being brought to West Bengal on transit remand, he said, adding they will be produced before the ACJM Siliguri Court. PTI SCH RG Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time Business News
26-06-2025
- Time Business News
Top Tour Operators for Sikkim in Siliguri (2025)
📍 Why Choose a Tour Operator Based in Siliguri? Looking for a reliable Sikkim tour operators in Siliguri? Siliguri is the main entry point for anyone traveling to Sikkim, Darjeeling, Bhutan, or the Dooars. With Bagdogra Airport and NJP Railway Station nearby, it's the logistical hub for all Northeast travel — especially for planning custom Sikkim trips, getting permits, and arranging private transport. A reliable Sikkim tour operator in Siliguri can: Arrange hotel stays, private cars, permits Plan trips to North Sikkim , Tsomgo Lake , Nathula Pass , Pelling , and more , , , , and more Handle emergency weather rerouting , vehicle breakdowns, or permit delays efficiently , vehicle breakdowns, or permit delays efficiently Offer budget, standard, luxury & honeymoon packages ✅ Local expertise, smoother execution, and verified support — that's the Siliguri advantage. Services Offered by Top Sikkim Tour Operators ✅ Service 💡 Description Complete Sikkim Packages Gangtok, Lachung, Lachen, Pelling, Namchi, Ravangla Permit Assistance Nathula Pass, Zero Point, North Sikkim Entry Car Rentals Hatchbacks to SUVs with experienced drivers Hotel Bookings Budget, 3-star, 4-star & boutique resorts Flight/Train Pickup From Bagdogra Airport & NJP Station Trek Support For Sandakphu, Phalut, Goechala (on demand) Group Tours School/college groups, corporate, senior tours 🏆 Top 7 Tour Operators for Sikkim in Siliguri (Verified & Reviewed) These tour operators are trusted by thousands of travelers for trips across Sikkim, Darjeeling. They are known for: ✅ Permit assistance (North Sikkim, Nathula, Zero Point) ✅ Customized & fixed tour packages ✅ Hotel + vehicle + driver combos ✅ Support for families, honeymooners, solo travelers & trekkers ✅ 4.5★+ Google reviews and GST-registered businesses Tour Operator Specialties Why They Stand Out ✅ EasoTrip (Highly Recommended) Personalized private Sikkim tours with tech-enabled booking Excellent support, flexible pricing, expert in Lachung, Pelling, Ravangla circuits ✅ WeTrekkers High-altitude treks + Land Rover + Sandakphu & Goechala Best for adventure lovers; supports camping and luxury treks ✅ Sikkim travel site with tour, cab, and permit support Known for transparency, clean UI booking & verified Siliguri office ✅ NatureWings Holidays Luxury and mid-premium Sikkim packages Great for honeymooners, family trips & Pelling luxury stays ✅ Green Valley Tours Budget & group-friendly Sikkim trips Popular for low-cost Gangtok + Lachung + Darjeeling combos ✅ Eastern Treasure India Specialist in trekking, offbeat routes, Dzongu, Zuluk Great for custom adventure circuits and treks ✅ DarjeelingYatra / SikkimYatra Honeymoon, spiritual, and short tour packages Ideal for travelers from Hyderabad, Delhi, and Kolkata Plan your Sikkim, Darjeeling, and Sandakphu trips with EasoTrip – a verified Siliguri-based tour operator known for trusted service, customizable itineraries, and seamless permit support. Explore private packages with expert drivers, local stays, and 24×7 travel assistance. Sikkim Tour Packages Offered Package Name Duration Starting Price (Per Person) North Sikkim Snow Tour 6 Days / 5 Nights ₹19,500 Gangtok–Tsomgo–Nathula Package 4 Days / 3 Nights ₹11,999 Romantic Sikkim Honeymoon 5 Days / 4 Nights ₹16,999 Complete Sikkim Circuit 8 Days / 7 Nights ₹28,000 Budget Sikkim Starter 3 Days / 2 Nights ₹7,499 🚘 Vehicle Options Provided Hatchback: WagonR / Swift SUV: Xylo / Innova / Bolero Premium SUV: Innova Crysta Tempo Traveller (8–12 pax) Land Rover: For Sandakphu / Phalut roads 🚗 Experienced, hill-trained drivers included in all packages. 💬 How to Choose the Right Sikkim Tour Operator in Siliguri 🧩 Question ✔️ What to Look For Are they Sikkim-licensed? North Sikkim requires state-accredited operators Do they help with permits? Nathula, Zero Point, and Lachen/Lachung require permit handling Are vehicles Sikkim-approved? Only Sikkim vehicles allowed beyond certain checkpoints Do they offer trip re-planning in bad weather? Experienced local operators handle changes better Do they give written itineraries with inclusions? Transparency matters FAQs – Choosing a Tour Operator for Sikkim in Siliguri Q1: Is it better to book from Siliguri or online from home? It's best to pre-book online with a Siliguri-based tour operator so everything is ready when you land. Q2: Do these agencies provide pickup from Bagdogra Airport or NJP? Yes — 100%. All packages include pickups unless you opt out. Q3: Can I customize the Sikkim itinerary? Yes. Most operators offer fully customizable plans for solo travelers, couples, or groups. Q4: Will they handle permits for North Sikkim and Nathula? Yes — your tour operator will collect documents and issue permits for restricted zones. Q5: Are Sikkim taxis included or extra? Included in packages. You'll be using Sikkim-registered vehicles once inside the state. 👉 Best Travel Agency in Siliguri (2025) – Tour Packages, Car Rentals, and Custom Trip Planning 👉 What makes EasoTrip the most recommended Travel Agency in Siliguri? Click to find out TIME BUSINESS NEWS
Time Business News
26-06-2025
- Time Business News
Best Travel Agency in Siliguri (2025) – Tour Packages, Car Rentals, and Custom Trip Planning
Siliguri, located in North Bengal, is the main gateway city to Sikkim, Darjeeling, Bhutan, Dooars, and Northeast India. Almost all tourists going to the Himalayas pass through Siliguri — making it the perfect base to start or end your trip. If you're flying into Bagdogra Airport (IXB) or arriving at NJP Railway Station, you'll likely need a reliable travel agency in Siliguri to help you with: 👉 What makes EasoTrip the most recommended Travel Agency in Siliguri? Click to find out Tour packages (Sikkim, Darjeeling, Bhutan, Dooars) Car rentals & transfers Hotel bookings Permits (e.g. North Sikkim, Nathula, Bhutan) Trek arrangements (Sandakphu, Goechala) 🧳 Whether you're planning a family trip, honeymoon, group tour or a trek, a Siliguri-based travel agency is your local expert. Looking for a trusted travel partner to plan your trip to Sikkim, Darjeeling, Bhutan, or North Bengal? Here's why EasoTrip is consistently rated as the best travel agency in Siliguri: 🌟 Feature 💡 Why It Builds Trust ✅ Locally Based in Siliguri EasoTrip has deep roots in the region and first-hand knowledge of every destination, from Gangtok to Sandakphu. ✅ Registered Travel Company We're GST-compliant and licensed — so your booking is always secure and verified. ✅ Verified Google Reviews & 5-Star Ratings Trusted by 5,000+ travelers across India, with hundreds of positive reviews and repeat clients. ✅ 24×7 Support & Local Team From permit issues to last-minute plan changes, our real-time support team in Siliguri is always a call away. ✅ Direct Local Network Unlike aggregators, EasoTrip works with direct hotel owners, vehicle drivers, and trek guides, ensuring better rates and quality control. ✅ Customization Experts Whether you're a honeymoon couple, a solo backpacker, or a family of 10 — our planners tailor the trip just for your style and budget. ✅ Safety First We only use licensed drivers and sanitized vehicles with seatbelts, snow chains (for high altitudes), and hill-experienced chauffeurs. ✅ Registered Office Address:EasoTripNear Bhutia Market, Haren Mukherjee RoadWard No. 12, Hakim Para, Siliguri – 734001 West Bengal, India 📞 Phone / WhatsApp: 📱 +91 70017 24300 🕒 Timings:Open: Monday to Saturday, 10:00 AM – 6:00 PM (on-call support available) Closed: Sundays (on-call support available) 🌐 Website 🔗 📧 Email: ✉️ contact@ 👉 Looking for a reliable Travel Agency in Siliguri? Here's why EasoTrip stands out ✅ Service 💡 What It Includes Tour Packages Sikkim, Darjeeling, Bhutan, Dooars, Kalimpong, Meghalaya Car Rentals Hatchback, SUV, Xylo, Innova, Tempo Traveller with drivers Trek Support Sandakphu, Phalut, Goechala, Dzongri trek logistics Permit Assistance Nathula, North Sikkim, Zero Point, Phalut, Bhutan Group Tours Fixed departures + custom family plans Flight/Train Pickup From Bagdogra or NJP to any hill station Hotel Bookings Verified stays with reviews + meal plans ✅ Local connections = faster permits & better deals ✅ 24×7 support during your trip ✅ Safe vehicles with trained drivers for hills ✅ Customizable plans – pay for only what you need ✅ Budget to luxury travel options ✅ Expertise in road conditions, weather & local experiences Package Name Duration Starting Price (Per Person) Darjeeling Scenic Tour 4 Days / 3 Nights ₹8,499 Gangtok + Lachung Sikkim Tour 6 Days / 5 Nights ₹19,999 Bhutan Road Trip via Jaigaon 7 Days / 6 Nights ₹28,500 Dooars Jungle Safari & River Stay 4 Days / 3 Nights ₹10,999 Sandakphu Land Rover Package 3 Days / 2 Nights ₹8,000 🏨 Hotel & Vehicle Options You Can Expect Vehicle Types Available from Siliguri: 🚗 Hatchback: Swift / WagonR – for 2–3 people 🚙 SUV: Xylo / Bolero / Innova – for 4–6 people 🚐 Tempo Traveller – for 8–12 people 🚕 Land Rover – for Sandakphu/Phalut treks 🚌 Mini Coach – for group packages 🌿 Budget Homestays 🏨 3-star & 4-star hotels 🏔️ Hillview cottages 💞 Honeymoon resorts 🍛 Stays with Jain/Vegetarian kitchens on request Contact via WhatsApp, call, or email via WhatsApp, call, or email Share your travel dates, number of people & destinations Get a free itinerary with pricing Customize hotel/vehicle/sightseeing preferences Confirm your booking with a small advance 📩 Most Siliguri agencies respond within 2–6 hours with full details. Q1: Do I need a travel agency to visit Sikkim or Darjeeling? You can explore Sikkim and Darjeeling on your own, but during peak seasons or for first-time visitors, it's smarter to book through a trusted travel agency. They help you avoid issues like sold-out hotels, weather delays, unreliable drivers, and travel scams — ensuring a smooth, safe, and well-managed trip. That's why many travelers choose EasoTrip – a leading Travel Agency in Siliguri known for its reliability, local expertise, and personalized Himalayan packages. Whether it's a romantic getaway, family vacation, or trek, EasoTrip handles everything, so you travel with confidence. Q2: Can I get a car from NJP/Bagdogra to Gangtok via a Siliguri agency? Yes — most Siliguri agencies provide one-way and round-trip cabs to all major destinations. Q3: Do they offer trekking packages? Yes, trekking packages for Sandakphu, Phalut, and Goechala are available with full support. EasoTrip, a trusted Travel Agency in Siliguri, is well-known for expertly organizing both guided treks and Land Rover-assisted options. Q4: Can they help me with Bhutan travel? Yes. Several agencies provide full Bhutan road trip packages via Jaigaon/Phuentsholing. Q5: Is it safe to book online with Siliguri-based agents? Yes — booking online is safe if you verify GST registration, check Google reviews, and confirm proper documentation. Many agencies now offer secure UPI payment links for added protection. Among them, EasoTrip stands out as a highly trusted Travel Agency in Siliguri, with over 6,000+ travelers choosing them every year for trips to Sikkim, Darjeeling, and Sandakphu. Want to visit Sikkim but not sure where to begin? 👉 Click here to explore your perfect Sikkim trip now — plans for every traveler, every season. Want to visit Darjeeling but not sure where to begin? 👉 Click here to explore your perfect Darjeeling trip now — plans for every traveler, every season. TIME BUSINESS NEWS
News18
24-05-2025
- General
- News18
Young Army Officer Sacrifices Life Rescuing Agniveer In Sikkim, Just 6 Months After Joining Force
Last Updated: While marching towards a key post, Lieutenant Shashank Tiwari jumped into a mountain stream to rescue an Agniveer, who lost control while crossing a log bridge A young Indian Army officer leapt into a raging mountain stream to save a fellow soldier during a patrol in North Sikkim but was swept away by the strong current. The 23-year-old Lieutenant Shashank Tiwari of the Sikkim Scouts, commissioned in December last year, was leading a route-opening patrol towards a tactical operating base in Sikkim when the tragic incident took place. While marching towards a key army post, Lieutenant Tiwari bravely jumped into a treacherous mountain stream to rescue Agniveer Stephan Subba, who lost control while crossing a log bridge. Another soldier, Naik Pukar Katel, followed Lieutenant Tiwari in the rescue effort and successfully pulled the Agniveer out of the mountain stream. While Subba was brought to safety, Lieutenant Tiwari was swept away by the powerful current. His body was recovered approximately 800 metres downstream. The Indian Army in a post said, His bravery and devotion to duty will continue to inspire generations. The #IndianArmy stands shoulder to shoulder with the family in this hour of grief." 'A wreath was laid with full military honours by Lt Gen Zubin A Minwalla, GOC Trishakti Corps, at Bengdubi Military Station, prior to the final journey of the braveheart's mortal remains to his hometown," the Siliguri-based 33 Corps (Trishakti Corps) posted on X. He is survived by his parents and sister. First Published: May 24, 2025, 10:27 IST
