Paperless SIP

The StAR Mutual Fund platform at the BSE has launched a paperless SIP facility, which will allow mutual fund distributors to register SIPs for their clients online without doing any paperwork. This means that new investors will now be able to start their SIPs though net banking, a facility that is already provided directly by AMCs, and do away with the need to register for an ECS mandate. At the moment, investors need to submit NACH forms to the mutual fund house, which takes as long as 2-3 weeks to come into play. Doing so will reduce the wait for investors from deploying their funds and the platform will allow it to be done seamlessly without any additional paperwork.

olmdesk@outlookindia.com