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Tata Mutual Fund has tied up with CAMSPay to enable Unified Payments Interface (UPI) Autopay for immediate SIP registration.
With this, investors can start their SIPs on real time basis and generate e-mandate immediately. Investors can use their virtual payment address (VPA)/UPI handle to mandate an Autopay facility for their SIPs.
In a press release, Kashmira Kalwachwala, Head - Investor Services, Tata MF said, "Investors can now set up SIP mandate through their UPI based apps. The instruction to debit the investor's bank account will be sent on the SIP date for immediate realization of funds in the scheme account. This ensures that the investor gets the appropriate NAV ensuring operational efficiency."
Currently, investors can generate e-mandate of up to Rs.5000 per month per scheme.
