Jannivesh sip scheme: SBI Mutual Fund has launched the Jannivesh SIP scheme, which aims to launch a small scale systematic investment plan (SIPS), which will start from Rs 250. On this occasion, SEBI chairperson Madhubi Puri Buch said that SIP of Rs 250 has been a very special dream. SBI Mutual Fund has been launched in partnership with SBI Bank. Buch also said that such investment can play an important role in the construction of property for millions of Indian families.
Market regulator SEBI (SEBI) released a consultation paper on January 22, which was aimed at encouraging distributors for low-cost SIP. In the consultation paper, it was also suggested to give an incentive of Rs 500 to make investors aware of investors first in mutual funds and promote long -term investment.
Describing this initiative as extremely special, SEBI Chief said that it is difficult for foreign investors to believe that 250 rupees ($ 3) can be invested every month on the global platform. However, Buch also said that it was possible that India’s financial eco-system worked together to erect this model.
A major challenge in launching micro-SIP is to make it durable at the economic level. Buch said that banks and financial institutions have already introduced SIP products of Rs 100 and 500, but they could not be promoted much due to high operational costs. He said, ‘To make it successful, we had to ensure that the break Eve period was within two or three years. We knew that if it was more, no CEO would carry it forward. ‘