SBI MF launches Rs 250 JanNivesh SIP to expand financial inclusivity

Asset management company SBI Mutual Fund on Monday launched a systematic investment plan (SIP) aimed at democratizing access to the product.

An investor can invest as low as Rs 250 per transaction under the JanNivesh SIP scheme, which was launched in presence of Sebi Chairperson Madhabi Puri Buch.

Investors typically put Rs 500 in SIP, which could go down to Rs 100 depending on the scheme in which money is being put.

With the aim of deepening the MF reach, the lower SIP of Rs 250 was considered, which is akin to the idea of sachetisation effectively used by consumer goods companies.

The fund house is targeting the product at first time MF investors, urban investors, unorganized sector workers and the digitally proficient investors.