SBI MF first to unveil Rs 250 micro-SIPs

MUMBAI: SBI Mutual Fund has launched its new micro SIP scheme for the masses, 'JanNivesh', with investment options starting at just Rs 250 per month. Investors can also choose daily and weekly SIP options.

The scheme was unveiled by Sebi chief Madhabi Puri Buch, while CS Setty, chairman of SBI, said that the scheme launched by its mutual fund arm would be sold without any fees. Sebi has allowed for micro SIPs without KYC on a purely digital basis subject to an investment ceiling of Rs 50,000 per year. TNN