SBI Jannivesh SIP: SBI has launched a new plan to make mutual funds accessible to the poor and working class of the country. In this, SIP can be started with a very small amount.
You will remember that Modi government had started Jan Dhan Yojana to provide bank account to every person and till date, accounts of about 50 crore people have been opened. On the same lines, now the government has started Jan Nivesh Yojana to provide investment to every person. Under this, there is a plan to connect maximum number of people of the country with mutual funds and SIP.
SBI has started Jan Nivesh SIP. SEBI Chairperson Madhabi Puri Buch and SBI Chairman CS Shetty will do it today i.e. on 17 February. Its purpose is to provide investment to every person. Apart from SBI, other mutual fund houses will also start similar investment options. SBI has launched this scheme to take forward the journey of developed India, in which the option of investing with a small amount will be available.
What is special in this
The most special thing about SBI’s Jan Nivesh SIP is that it has been made for everyone. In this, SIP can be started with a minimum amount of just Rs 250. At present, one had to start investing in mutual funds with a minimum of Rs 500. This step is being taken to connect the working class as well as the street vendors of the country with mutual funds.
How much fund can be created
If someone starts a SIP of Rs 250 per month on the birth of a daughter and invests in it continuously for 25 years. During this period, if the average return is 12 percent, then only Rs 75 thousand will be invested in the entire period and in return Rs 4,74,409 will be received. In this, about Rs 4 lakh will be received only from interest.
Why only mutual funds
Why does the government want to give access to mutual funds to the poor and working class? The answer to this is the strong performance of mutual funds in the last 20 years. This investment option has given 15 to 20 times return in the last 2 decades. On the contrary, options like FD and PPF have given only 4 to 5 times returns during this period.
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