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SEBI Chief Madhabi Puri Buch said that the regulator is planning to make the minimum amount for SIP as low as Rs. 250.
Buch was speaking at the CII Financing Summit in Mumbai on ‘What is needed for Viksit Bharat?’.
The SEBI Chief said that low ticket SIPs will facilitate the financial inclusion of the common man in India’s growth story and wealth creation. She said, “We are well on our way to making a Rs. 250 SIP a reality in our country so that for every person, no matter where and in which village, the cost of onboarding is low, the cost of servicing is low and technology is leveraged.”
Buch further said, "We have been working very closely to make sure that's viable for them. It can be offered but if it's not viable, it will not get the traction. So I think the industry, AMFI and leaders in the industry have come forward and we are well on our way towards making a Rs.250 SIP a reality in our country.”
Buch said that people across the world are shocked to know that MFs will be available at less than $3 a month or the price of a Starbucks Coffee. She said, “Imagine with less than $3 a month, people will be able to participate in the wealth creation of our nation and that is our path towards a 'Viksit Bharat'," says the SEBI chairperson.”
She also praised the deployment of technology in aiding the financial growth of the country.
