BSE to let four MF houses offer paperless SIP registration

Leading stock exchange BSE on Thursday said it will allow four mutual funds -- Mirae AMC, ICICI Prudential AMC, Tata AMC and Quantum AMC - mandate to offer paperless registration for systematic investment plans (SIPs).

Additionally, the stock exchange said that they have technological system in place to offer e-wallet payment options for mutual fund investors and is awaiting regulator Sebi’s approval on the same.From November 18, BSE introduced ISIP services to help investors to set up a form of SIP without involvement of any physical documentation. BSE StAR MF is the largest MF distributor platform in India with more than 4 lakh SIPs per month.