Mutual Funds: New Daily SIP Initiative by LIC Mutual Fund to Enhance Personal Finance Options
Transforming Personal Finance with Daily SIPs
Mutual funds are gaining momentum with LIC Mutual Fund's introduction of ₹100 daily SIPs. This initiative follows SEBI Chairperson Madhabi Puri Buch's emphasis on micro-SIPs, aiding wider retail participation in the investment landscape.
Details of the New Daily SIPs
Currently, the minimum monthly SIP stands at ₹500, which may deter new investors. The impending changes will lower daily SIPs to ₹100 from ₹300, monthly SIPs to ₹250 from ₹1,000, and quarterly SIPs to ₹750 instead of ₹3,000. Experts view these changes as a significant step towards enhancing financial inclusion.
- Financial advisors support this initiative, highlighting how small investments can lead to substantial wealth creation over time.
- The expansion in smaller towns through micro-SIPs opens new opportunities for fund houses.
- Experts advocate that these changes could encourage low-income segments to participate in wealth-building products like mutual funds.
By easing investment entry points, LIC Mutual Fund's approach is poised to shift perceptions, drawing in previously hesitant investors. This pivot aligns well with SEBI's broader goals of promoting inclusive financial growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.