SBI Mutual Fund Unveils Low-Cost SIP to Expand Financial Inclusivity

SBI Mutual Fund has introduced a new systematic investment plan (SIP) with a minimum investment of Rs 250. This initiative aims to broaden access to financial products by targeting first-time investors and those in unorganized sectors. The plan seeks to lower entry barriers, thereby promoting financial inclusion.

SBI Mutual Fund, on Monday, launched a new systematic investment plan (SIP) designed to democratize financial product access. This initiative was unveiled in the presence of SEBI Chairperson Madhabi Puri Buch.

The JanNivesh SIP scheme allows investors to contribute as little as Rs 250 per transaction, differing from the usual Rs 500 investment. This move is set to deepen mutual fund reach, similar to how consumer goods companies use sachetisation to market low-cost products.

SBI Mutual Fund's managing director, Nand Kishore, emphasized the plan's goal to attract first-time investors and small savers by lowering entry barriers. SBI's chairman, C S Setty, highlighted the importance of innovation and inclusivity in transitioning into a new phase of financial inclusion.