News From Press Your SIP can now start faster due to electronic transfer of instructions

Your SIP can now start faster due to electronic transfer of instructions

Source: Mint May 25, 2016

Do you know how much time it takes to start a systematic investment plan (SIP) in a mutual fund (MF) scheme? Typically, it takes about 30 days. But not anymore; thanks to a system change in the banking industry. MF investments have moved to the National Automated Clearing House (NACH) system, from Electronic Clearing System (ECS). Here is what it means.

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