Odisha has started free mutual‑fund certification courses in colleges to help more people invest in mutual funds. The move is aimed at building a retail investment culture beyond the big financial hubs.
Cuttack has seen the biggest rise in its mutual‑fund share. In 2026 the city’s share was 0.11 per cent, up from 0.07 per cent in 2019 – a jump of about 57 per cent. The share stayed at 0.07 per cent until 2023, then grew to 0.08 in 2024 and 2025.
Bhubaneswar remains Odisha’s largest mutual‑fund centre with a 0.27 per cent share in 2026, higher than 0.23 per cent in 2019. However it fell from 0.30 per cent in 2025. Rourkela, on the other hand, lost ground, dropping to 0.08 per cent from 0.10 per cent over the same period.
Several smaller cities are growing fast. Dhanbad’s share rose to 0.33 per cent in 2026 from 0.12 per cent in 2019. Gandhinagar grew to 0.18 per cent from 0.08 per cent. Thrissur more than doubled its share to 0.13 per cent, and Kolhapur increased to 0.18 per cent from 0.10 per cent.
Other emerging centres also gained ground. Anand’s share climbed to 0.15 per cent from 0.09 per cent, Belagavi to 0.14 per cent from 0.08 per cent, and Surat to 0.88 per cent from 0.64 per cent.
Large metros still dominate the market. Mumbai accounted for 29 per cent in 2026, Delhi 15.5 per cent and Bengaluru 5.92 per cent. Kolkata’s share fell to 3.35 per cent from 4.52 per cent in 2019, and Pune slipped to 3.97 per cent from 4.40 per cent.
Odisha’s certification initiative comes at a time when mutual‑fund participation is spreading to smaller urban centres. While the state sees growth, the gains are uneven, with some cities expanding faster than others and a few losing share. The program aims to level the playing field and encourage more people to invest in mutual funds across the state.