JanNivesh SIP is to Democratize Wealth Creation; Available on SBI Yono app for all its users and on other fintech platforms like Paytm, Zerodha and Groww
FinTech BizNews Service
Mumbai, February 17, 2025: SBI Mutual Fund, in collaboration with State Bank of India, today announced the launch of JanNivesh SIP. This initiative, unveiled in the presence of Ms. Madhabi Puri Buch, Chairperson of SEBI, and Mr. Challa Sreenivasulu Setty, Chairman of State Bank of India, aims to make mutual funds accessible to a broader audience.
JanNivesh SIP is designed to enable first-time investors and small savers from rural, semi-urban, and urban regions to invest, thereby promoting financial inclusion.
Key Benefits of JanNivesh SIP:
1. Low-Cost Investment Option: JanNivesh SIP offers flexible SIP options starting at just Rs. 250, with daily,
weekly, and monthly investment plans. This low entry threshold makes it easier for individuals to start their
investment journey.
2. Digital Accessibility: The facility will be available on the SBI YONO platform and other fintech platforms
like Paytm, Groww and Zerodha. This will ensure that investors can easily access and manage their
investments through familiar digital interfaces.
3. Cost-Effective and Sustainable: JanNivesh SIP is designed to be cost-effective, ensuring sustainable
growth and benefiting all stakeholders.
Mr. Challa Sreenivasulu Setty, Chairman, State Bank of India, stated, "As we transition into a new phase of
financial inclusion, innovation and inclusivity are essential. Our focus is on developing products, processes and
technologies that make inclusivity seamless and effective. Through the JanNivesh SIP on our YONO app, we
aim to empower more customers with innovative investment opportunities besides promoting financial
inclusion."
Mr. Nand Kishore, MD & CEO of SBI Mutual Fund, said, "JanNivesh SIP is a pivotal step towards
democratizing wealth creation and promoting financial inclusion in India. By lowering entry barriers and
leveraging digital platforms, we aim to attract first-time investors, small savers, and those in the unorganized
sector, with SIP starting at just Rs. 250. This initiative aligns with the vision and commitment of the Government,
State Bank of India, and SBI Mutual Fund towards financial inclusion and empowering small savers to invest
for their financial goals."
Mr. D.P. Singh, DMD & Joint CEO, said, "Progress should be accessible to all. With JanNivesh SIP starting at
just Rs. 250, individuals can invest and grow their savings, empowering them to achieve their financial goals.
Mutual funds have always aimed to democratize wealth creation, and this initiative is a significant step towards
involving everyday savers in our nation's journey towards a 'Viksit Bharat'."
Target Investors:
• First-Time Investors:
JanNivesh SIP aims to attract first-time investors from rural, semi-urban, and urban regions, providing them with an accessible entry point into the world of mutual funds.
• Urban Investors: Targets urban investors who may have limited access to financial advisors but are comfortable using digital platforms for their financial needs.
• Unorganized Sector Workers: Self-employed individuals and small savers in the unorganized sector can greatly benefit from the simplicity and flexibility of JanNivesh SIP. This initiative makes it easier for them to invest and create wealth to achieve their financial goals.
• Digitally Proficient Investors: Tech-savvy individuals looking for straightforward and adaptable investment options will find JanNivesh SIP to be an ideal solution for their wealth creation goals. By addressing the barriers to entry and creating a scalable model, JanNivesh SIP aims to bring millions of new customers into the mutual fund ecosystem. This initiative not only fosters financial inclusion but also promotes disciplined investing habits among a diverse set of investors
