ANI PR Wire
11 Nov 2023, 15:53 GMT+10
PRNewswire
Mumbai (Maharashtra) [India], November 11: Mirae Asset Mutual Fund, one of the fastest-growing fund houses in India, today announced the launch of UPI AutoPay Mandate for SIP registrations.
This is one of its kind Industry initiative jointly developed by Mirae Asset Mutual Fund, KFintech & BillDesk to help investors of Mirae Asset Mutual Fund to register SIP mandate using UPI AutoPay feature simplifying the overall investment process which reduces the investment time, thereby improving the overall investment experience.
UPI AutoPay allows an investor to automate their recurring Systematic Investment Plan (SIP) payments. The payments will be deducted from the bank account on a particular date. Mirae Asset Mutual Fund UPI AutoPay facility enables a hassle-free monthly deduction from the investor's bank account to invest in their desired Mirae Asset Mutual Fund schemes, making the investment process more convenient and disciplined. Investors can now enable recurring e-mandate using all UPI applications supporting UPI AutoPay.
Mirae Asset Mutual Fund's UPI AutoPay service enables real time SIP mandate set up and investment. Given the ubiquity of UPI as a payment method, this service opens up the SIP facility available to a very large customer base in a reliable and convenient manner.
"At Mirae Asset one of our foremost principles is Clients First approach, we have always believed in providing our investors with efficient solutions. UPI has already revolutionised payments, with UPI autopay we are introducing a new facility which has the potential to revolutionise SIPs. We are confident this facility should help our investors to adopt UPI autopay as a preferred mode for Mandate registrations," said Shrinivas Khanolkar, Head - Products, Marketing & Corporate Communications, Mirae Asset Investment Managers (India) Pvt. Ltd.
"We are excited to partner with Mirae Asset Mutual Fund and KFinTech to deliver an industry-first UPI AutoPay solution for Mutual Fund SIPs. UPI AutoPay is an extremely convenient facility for investors to view and manage their SIPs," said Karthik Ganapathy, Co-Founder, BillDesk.
Sreekanth Nadella, MD & CEO of KFintech said, "Partnering with our clients and creating paradigm shifting industry first solutions is core to what we do at KFintech. Mirae Asset Mutual Fund and KFintech has orchestrated the country's first 'Mandate + SIP registration' solution which we believe will significantly drive ease of doing business for both investors and distributors alike. Additional solutions to improve the mutual funds processes, especially SIP oriented are on the anvil."
As per present limit set by NPCI, Mandates up to Rs 15,000/- (fifteen thousand) can be created using UPI AutoPay. As per latest data from AMFI, (30th sept 2023), the average SIP ticket size is Rs 2250/- (Industry book size is Rs 16,042 crs. per month and there are 7.12 crore SIP accounts)
With digital payments penetrating in India, Mirae Asset Mutual Fund's Unified Payments Interface (UPI AutoPay) transactions aims to set a record high every month.
For further information please visit the website of the AMC: www.miraeassetmf.co.in
Please consult your financial advisor or mutual fund distributor before investing
Mutual fund investments are subject to market risks, read all scheme-related documents carefully.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
Get a daily dose of Myanmar Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Myanmar Sun.
More InformationKATHMANDU, Nepal - The Rukum Paschim District Court sentenced 24 people to life in prison for their roles in the ...
JAKARTA, Indonesia: The death toll from the eruption of Indonesia's Marapi volcano surged to 22 as rescuers discovered additional climbers ...
DHAKA, Bangladesh - PM Sheikh Hasina is ranked 46th on Forbes' list of the World's 100 Most Powerful Women in ...
LAHORE, Pakistan - According to the Lahore police Organized Crime Unit (OCU), a gang of robbers has been arrested in ...
BUKITTINGGI, Indonesia: On December 2, Mount Marapi in West Sumatra province, Indonesia, erupted, sending hot ash clouds several miles (kilometers) ...
NAYPYITAW, Myanmar - Myanmar's junta chief has urged ethnic armed groups fighting the military across the country to find a ...
WASHINGTON, DC - Within hours of blocking a UN Security Council resolution from demanding a ceasefire in the current Mideast ...
WASHINGTON D.C.: In a sign of the challenges ahead for his 2024 re-election bid, a new Reuters/Ipsos poll showed that ...
Israel has acknowledged and thanked the United States and President Joe Biden for standing firmly by Israel's side at the ...
NEW YORK: This week, New York City officials said that one person was killed and six others were injured when ...
NEW YORK, New York - The United Kingdom refrained from supporting demands for a ceasefire in the two-months long Israel-Gaza ...
NEW YORK, New York - The U.S. was alone on Friday in a 13-1 vote for a ceasefire in the ...