Though the stock market captivates numerous individuals, financial compulsions often turn out to be a showstopper for them. In such a situation, SBI Mutual Fund came up with a program called 'Jan Nivesh SIP' to facilitate young and mature investors who can invest even in small amounts of Rs. 250 every month, week, or day and get a stock as securities. The scheme was launched on Monday by SBI Mutual Fund.
Key Features of Jan Nivesh SIP
- Investors can start with just Rs. 250 per month through a Systematic Investment Plan (SIP).
- This scheme offers an opportunity to invest in mutual funds without requiring a large capital amount.
- SEBI Chairperson Madhavi Puri Buch attended the launch event.
- Currently, the minimum SIP investment is Rs. 500, but this scheme may allow investments as low as Rs. 100 per month in the future.
Who Can Benefit?
According to SBI Mutual Fund MD and CEO Nand Kishore, this scheme is ideal for:
- First-time investors.
- Individuals with a small savings amount.
- Workers in the unorganized sector.
- Rural investors.
SBI Chairman Srinivasulu Shetty said that the implementation is pivotal to their philosophy of financial inclusion, emphasizing all aspects including product development, service, and technology upgrading.
A Vision Fulfilled: SEBI Chairperson’s Statement
Madhavi Puri Buch, SEBI Chairperson, disclosed her great joy in welcoming the launch, sharing that the effect of low-priced SIPs was a dream of hers. She advised parents to invest in this saving method as it was a solution for the financial security of their family. Also, she recognized the mutual fund companies for bringing about a massive increase in the investment rate in India.
And thanked the RTAs (Registrar and Transfer Agents) and KRAs (KYC Registration Agencies) as well as the depositories for the success of the initiative.
No Transaction Charges & Easy Accessibility
- No demat account is required to invest in this SIP.
- Currently, the only Rs. 250 SIP facility available is the SBI Balanced Advantage Fund.
- Investor can invest through SBI YONO, Paytm, Groww, and Zerodha.
- SIP contributions of Rs. 250 can be done daily, weekly, or monthly.
- The State Bank of India has lifted the charge on transactions credited to these investments.
The aim of this program is to bring the idea of mutual fund investments closer to the general public, which will help to create financial success as well as stability for small investors.
Tags Cloud
