ETMONEY launches Aadhaar-based mutual fund SIP payment feature

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Investment app, ETMONEY, has launched an Aadhaar-based SIP payments feature. With this, anyone can now start a mutual fund systematic investment plan (SIP) online and set up automatic payments using an Aadhaar-based OTP (one-time password) verification.

According to a press release issued by ETMONEY, the Aadhaar-linked SIP payment mandate will enable more Indians to invest regularly via SIPs, promoting better financial discipline among the masses.

Mukesh Kalra, Founder-CEO, ETMONEY, said, “SIPs work best for investors who automate the payment towards their monthly investments. And we want to help all those Indians who find using their bank’s internet banking cumbersome by providing them an option to set up their SIP mandates easily through their Aadhaar linked bank accounts. We are confident this will go a long way in taking online investments to that section of Indian society who are still not a part of digital banking services.”

(ETMONEY is a Times Internet company, publisher of the website, economictimes.com)