Paytm Partners with SBI Mutual Fund to launch JanNivesh Rs.250 SIP; Know How to Start Investing?
Paytm, the nation’s payments and financial services market leader, partnered with SBI Mutual Fund, India’s largest asset management player, to introduce the JanNivesh Rs.250 SIP. With this scheme, people can now start investing in mutual funds with as little as Rs.250. This will offer a means of investing in mutual funds to even more people.
Why this Initiative is Important?
The majority of Indians do not want to invest since they do not have the right knowledge or think a great deal of money has to be invested. The JanNivesh Rs. 250 SIP dispels these disincentives by providing a simple, convenient investment facility. It aligns with the country’s vision to create financial literacy and bring more people into the investing world.
Now, more than 100 million people in India are investors in mutual funds. Under this scheme, it is aimed to increase that figure to 300–400 million by making the investment simple and affordable for all. By providing a systematic investment plan (SIP) with a very minimal initial amount, this scheme attempts to assist people in increasing their savings and contribute to the growth of the economy of the country.
How to Start JanNivesh Rs.250 SIP?
It is easy for everyone to invest using the Paytm app by merely following these steps:
1. Launch the Paytm app and look for the JanNivesh SIP option on the ‘Do More with Paytm’ menu.
2. Select the investment frequency as daily, weekly, or monthly. This feature gives investors the option to select an option based on their financial position.
3. Invest a sum, of at least Rs.250. Depending on goals, one can invest more.
4. Furnish PAN details whenever called for by the regulators.
5. Complete KYC formalities, as demanded by SEBI, by filing documents.
6. Verify the SIP details and activate UPI Autopay for regular monthly payments so that investment becomes convenient.
7. Wait for the approval after the mandate is approved, the SIP will get registered successfully.
Getting More Individuals to Invest
By reducing the investment process and making it cheap, this program aims to encourage more people to begin their journey of finances. The majority of people do not want to invest due to complicated processes or substantial amounts of money. With JanNivesh Rs. 250 SIP, even the people with limited knowledge of finances can begin with little and become rich over a period of time.
This collaboration between SBI Mutual Fund and Paytm is a great leap towards India’s financial inclusion. With its ease of investment, it makes it possible for people to plan their financial future and improve the economic development of the nation.
