SBI Unveils JanNivesh SIP: Start Investing with Just Rs 250
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Synopsis
SBI Mutual Fund and SBI have launched JanNivesh SIP, enabling investments starting at Rs 250. This initiative enhances accessibility to mutual funds and promotes financial inclusion for diverse investors.
Key Takeaways
- JanNivesh SIP starts from Rs 250.
- Available on the SBI YONO app and other platforms.
- Targets first-time investors and small savers.
- Offers daily, weekly, or monthly investment options.
- Promotes financial inclusion across demographics.
Mumbai, Feb 17 (NationPress) SBI Mutual Fund, in partnership with the State Bank of India (SBI), has introduced a revolutionary initiative known as JanNivesh systematic investment plan (SIP) — a cost-effective investment alternative allowing SIPs to commence at only Rs 250.
Inaugurated in the presence of Madhabi Puri Buch, Chairperson of SEBI, alongside Challa Sreenivasulu Setty, SBI Chairman, this initiative aims to broaden the accessibility of mutual funds to a larger demographic.
Investors can select from daily, weekly, or monthly investment schedules, facilitating entry into the investment realm for individuals with diverse financial circumstances.
“As we move into a new epoch of financial inclusion, innovation and inclusivity are crucial,” remarked Setty.
He emphasized the need for developing products, processes, and technologies that ensure inclusivity is both effortless and impactful.
“With the JanNivesh SIP available on the SBI YONO app, we aspire to empower a greater number of customers with innovative investment options while fostering financial inclusion,” Setty added.
A standout feature of the JanNivesh SIP is its digital accessibility. This service will be available on widely-used digital platforms such as the SBI YONO app, Paytm, Groww, and Zerodha.
This ensures that users can effortlessly manage their investments through platforms they are already comfortable with.
JanNivesh SIP targets first-time investors, those in the unorganised sector, and small-scale savers.
It provides a straightforward and economical method to invest and accumulate wealth. Whether for an individual in a rural location lacking access to financial advisors or a tech-friendly person seeking a convenient investment pathway, JanNivesh SIP accommodates a wide spectrum of investors.
On September 2, 2024, Buch stated that the day is approaching when Indian investors will be able to experience a Rs 250 per month SIP, enhancing the accessibility of financial inclusion.
While addressing a CII event, she noted: “The inclusion agenda is of utmost importance to SEBI, and the launch of a Rs 250 SIP, by minimizing servicing costs, exemplifies the effort to make financial products attainable for the average person.”
