Mumbai: India’s largest and most acceptable digital Infrastructure, BSE StAR MF yesterday i.e. October 10, 2018 recorded 11,111 SIP in a single day by Swastika Investmart Ltd. Mutual funds Distributors leveraging BSE StAR MF have created progressively and frequently creating records for SIP registration in a single day. Started with 301 SIP registrations in a single day couple of months back by BSE StAR MF Distributor, Progressively multi records were made by different BSE StAR MF Distributors and yesterday recorded 11,111 SIP in a single day by Swastika Invest mart Ltd.
Speaking on this occasion Shri Sunil Nyati, Managing Director, Swastika Investmart Ltd said “It was a financial awareness programme that we were driving across the nation from our 90 offices Pan India. In most of the developed nations, investment in Mutual Fund is more than 50% of their respective GDPs, whereas in India, we are still less than 10%. With our 11,111 logins in a single day on 10th Oct 2018, we got a lot of new investors in mutual funds. We did more than 50 Investor Awareness Programmes nationwide and I would like to congratulate as well as thank my entire team and BSE Star MF, for the great initiative, cracking the mountainous target and creating a new benchmark in the industry. The Swastika team is totally boosted up now and we will continue to inspire more and more people to invest in Mutual Funds.”
Shri Ashishkumar Chauhan, MD & CEO, BSE said “After witnessing this milestone, all AMCs will also whole heartedly work with BSE Star MF to reduce their distribution cost and automate the distribution processes. It is estimated that each mutual fund order placed on BSE StAR MF saves mutual fund industry more than Rs 300/- per transaction.”
The robustness and seamlessness of BSE StAR MF along with Swiftness of Distributors query resolution through real time interaction through BSE StAR MF user’s telegram group has created an ideal ecosystem for all stakeholders in India Mutual Funds Industry.
This Digital Revolution in Mutual Funds in India on BSE StAR MF is now being experienced by over 15000 IFAs/MFDs, adding over 2500 new Distributors Every Month; overall distribution network of over 2 lakh in over 3,000 towns across India.
In current Fiscal till 10th Sep 2018, BSE StAR MF had processed over 1.70 crore Transactions.