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Aug 30, 2012, 03.34 PM IST
Reliance Mutual fund facilitates Systematic Investment Plan (SIP) in mutual funds through SMS.
This is the first-of-its-kind initiative by any Asset Management Company (AMC) in the country that allows customers to initiate SIP in mutual fund schemes just by sending an SMS through their registered mobile phones.
This was announced by Mr. Sundeep Sikka, CEO, Reliance Capital Asset Management, here today.
"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. This first-of-its-kind feature is also in line with the company's objective to continuously provide the customers with innovative products and value-added services," said Mr. Sundeep Sikka, CEO, Reliance Capital Asset Management.
RCAM has launched its facility under its Invest Easy initiative, a comprehensive transaction platform that aims to use technology for making it convenient for investors to invest in mutual funds. "We already have over 2.5 lakh customers under the Invest Easy initiative that allows investors to transact online on the net, on their mobiles, through call center and now using SMS. A large number of our customers are already migrating to the online platform and we see this number growing exponentially though such facilities," said Mr. Sikka
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