3 Sept 2024
The minimum limit till now has been ₹500 for Systematic Investment Plan (SIP).
Speaking at a CII event, Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch mentioned that Aditya Birla Sun Life Mutual Fund will soon introduce ₹250 mutual funds in India. This will make Aditya Birla Sun Life the pioneer of low-value mutual fund SIPs in the country.
The minimum amount for SIPs has been reduced from ₹500 to ₹250. This reduction will make financial inclusion more accessible to a wider population and allow more Indians to partake in wealth creation towards a ‘Viksit Bharat’.
The Association of Mutual Funds in India (AMFI), market regulators, and industry players spearheaded the initiative. It aims to reduce onboarding and servicing costs by deploying advanced technology.
In India, investments in SIPs have been increasing every month since July 2023. In July, they secured the highest gross value ever, at ₹23,322 crore, with 9.34 crore SIP accounts active in the country.