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Reliance Capital Asset Management (RCAM), a unit of Reliance Capital, will now allow its customers to initiate systematic investment plan for mutual fund schemes by sending an SMS.
“SIP using SMS is the latest service offering from RCAM. This unique feature will make it cost-efficient, and convenient for over 900 million mobile users across the country to participate and make investments in mutual funds,” said Sundeep Sikka, CEO, Reliance Capital Asset Management
RCAM has launched this under its Invest Easy initiative. This initiative allows investors to transact online on the net, on their mobiles, through call centre. At present, it has over 2.5 lakh customers.
“We have around two million SIPs with over 40 per cent of these coming from non-metros. A huge challenge for the industry has been to reach out to small ticket investors and help them invest in the mutual fund sector. This initiative will help us strengthen our reach and enable an investor to directly invest in the schemes using their phones,” Sundeep Sikka said.
The minimum SIP for most funds is Rs 100, and can be initiated with registered mobile phone, RCAM said.
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