digiSIP is an initiative through which you can complete an SIP transaction of your clients within seven business days.
CAMS has started hosting demo sessions for distributors to help them understand functions of digiSIP.
The R&T agent recently organised a session in Chennai. The company will hold other such sessions across the country going forward.
In these sessions, distributors will learn how they can set up multiple SIPs for their clients through digiSIP facility. In addition, the company will explain to them the key features of digisip such as e- onboaring of clients through biometric device, data capturing from existing folio and Pan based eMandate.
You can also share your feedback with CAMS on how they can make digiSIP more relevant for distributors at these sessions.
The company has also set up a 24*7 help desk for distributors to resolve queries on digiSIP.
Here are some key benefits of digiSIP
- You can initiate SIP across CAMS serviced fund houses through a single mandate
- Completely paperless set-up
- Minimal data input requirement. The system automatically captures most details from existing folios
- The turnaround time to start an SIP is just 7 days
- Set up multiple SIPs in one go
- There will be no restriction on SIP dates. You can set up SIPs as and when presented. Also,
- There is no limit on the number of SIPs
- No need to submit a cheque or do net banking for lumpsum transactions. Investors simply have to select e-mandate as payment option or quote the unique mandate registration number and submit transaction.
So far, over 1000 distributors have started using digiSIP.