SBI Mutual Fund has launched equity based Micro Systematic Investment Plan (Micro SIP). The launch is targeted to generate investments from low income group households in rural and semi rural areas. It is named as Chota SIP to provide the benefit of long term investment in equity to low income class of people. As per news SBI Mutual Fund is planning to promote micro SIP through the help of intermediaries like NGO's Self Help Groups and other micro financial institutions.
Initially in Chota SIP or Micro SIP of SBI Mutual Fund the investor can opt to invest in any of four equity fund which are Magnum Balanced Fund, MMPS 93, MSFU Contra Fund, and SBI Blue Chip Fund. Later more funds will be added under Micro SIP facility
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