SBI Mutual Fund, in collaboration with the State Bank of India (SBI), has introduced the JanNivesh Systematic Investment Plan (SIP), offering a low-cost investment option with SIPs starting at just $3. The initiative, launched in the presence of SEBI Chairperson Madhabi Puri Buch and SBI Chairman Challa Sreenivasulu Setty, aims to make mutual funds accessible to a broader audience.
The JanNivesh SIP allows individuals to choose from daily, weekly, or monthly investment plans, making it easier for people with varying financial capabilities to begin their investment journey. Setty emphasized the importance of innovation and inclusivity in this new phase of financial inclusion, focusing on developing products, processes, and technologies that ensure seamless and effective participation.
Available on popular digital platforms such as the SBI YONO app, Paytm, Groww, and Zerodha, JanNivesh SIP’s digital accessibility ensures users can manage their investments through familiar platforms. This initiative particularly targets first-time investors, individuals in the unorganized sector, and small savers, offering a simple and cost-effective way to invest and build wealth.
JanNivesh SIP aims to cater to a wide variety of investors, whether living in rural areas without access to financial advisors or tech-savvy individuals seeking convenient investment options. The initiative aligns with SEBI’s inclusion agenda, which emphasizes making financial products accessible to the common man. The introduction of a $3 per month SIP is a significant step towards reducing servicing costs and promoting financial inclusion.
With the JanNivesh SIP, SBI Mutual Fund and State Bank of India continue to empower customers with innovative investment opportunities and foster a more inclusive financial ecosystem.
