Concert workers can now invest so low £100 daily in the Fund (MF) through the Fintech application. Zena, the newly launched FINTECH platform founded by Alumni Oxford University Alumni Nikil Nair and Nikhil Saigal, lived on an open digital trade network with its daily customer application MF SIP (Systematic Investment Plans).
The aim of the application is to enable India Informforce to invest as little as £100 per day in Aditya Birla Sun Life Life Fund. Zena said his approach supports “digital bag savings”, where small, frequent deposits are produced through the UPI automatic payment (Unified Payments Interface), helping to build a good final among informal workers and make it easier for them to manage and grow their money.
“The assets of the Mutual Fund (AUM) have grown to 20% Cagr (composed annual growth rate) over the last decade, but the penetration between informal workers is sub-2%. We want to change this by allowing access to the Urban Affae segments.”
“For the first investors from informal workforce, the low -choice liquid fund can act as safe on the ramp. Our services offer fixed -free yields and flexibility when inserting and raising money every day,” he said.
Liquid Funds and Ondc Role in Access
Aditya Birla Sun Life Life Fund has gained 7.1% in the last year and is one of the top-7 artists in the category. It is a five -star fund in its category. Last year, liquid funds that are of a slight risk generated 6.6% revenues for tour.
Aditya Birla Sun Life Life Fund that has almost almonds £52000 crore, was invested mainly in deposit certificates (CD) issued by banks, commercial paper (CP) and bonds offered by leading accounts for corporate and state treasury issued by RBI (Reserve Bank of India).
Cheap MF or SIPs for £100 in India is not new. Sips for £100 offers MFS investing in gold, benchmarks of stock indexes and corporate bonds. Indian concert staff, including drivers, plumbers, chefs, electricians and mechanics, can earn interest in 6% -7% for their daily saving savings, Zena said.
“Ondc has been built to democratize the approach to ensure that every Indian, without income, geography or digital literacy can participate in formal elonomy,” said Vibor Jain, reigning CEO and COO, Ondc. Ondc is a non -profit company established as part of the DPIIT initiative (separation of industry and internal trade) to the Democratism of India in electronic trading by creating an open and interoperable network.
Quantum MF recently joined the Ondc network to simplify the distribution of the MF. The aim of Ondc is to provide trouble -free connection between AMC (asset management) and distributors of the MF.
Allájan M is a journalist with more than two decades of experience. He worked with several leading media organizations in the country and has been writing on mutual funds for almost 16 years.
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