Angel Broking has received the nod from National Payments Corporation of India (NPCI) for UPI AutoPay of mutual funds.
UPI AutoPay reduces turnaround time to set up a new SIP. It helps investors generate e-mandate within a minute.
In a press release, Vinay Agrawal, CEO, Angel Broking said, “The launch of UPI AutoPay for SIPs will do away with several bottlenecks in e-mandate registration. The development adds tangible value to the mutual fund ecosystem as UPI has a large base of customers, making UPI AutoPay the go-to alternative for SIP customers.”
Currently, investors can generate e-mandate of up to Rs.2000 per month per scheme.
