Another milestone in this era of transformation - SIP investing just got simpler and faster

BSE StAR MF Platform recently launched a service through which Independent Financial Advisors (IFAs) can start SIPs and execute them without any paperwork.
 
This augurs well for the market participants or mutual fund stakeholders as the whole process of mutual fund investing gets simpler and faster.
 
The new service launched by the BSE StAR MF will allow the IFAs to initiate SIPs on behalf of their clients without submitting any form and NACH mandate.
 
National Automated Clearing House (NACH) is a centralised system, launched with an aim to consolidate multiple ECS systems running across the country and provides a framework for the harmonisation of standard & practices and removes local barriers/inhibitors.

What this initiative will do is allow the distributor to register multiple SIPs through one mandate and make the whole process paperless and cost effective.

In its initial phase the BSE has enabled this facility for four fund houses, namely Mirae, ICICI Prudential, Tata and Quantum.