SBI Mutual Fund and State Bank of India (SBI), the country’s largest lender by assets, on Monday announced the launch of JanNivesh, a special Rs 250 systematic investment plan (SIP) aimed at democratising wealth creation and promoting financial inclusion. The initiative is aimed at enabling first time-investors and small savers, especially in the rural, semi-urban and urban parts of the country, to park their funds in the country’s mutual fund (MF) space.
The Rs 250 JanNivesh SIP will be available on the bank’s mobile app, Yono, as well as ither fintech platforms such as Paytm, Zerodha and Groww, according to a joint statement.
(This is a breaking news story. More details will be added shortly)
