Reliance Capital Asset Management (RCAM) today launched a systematic investment plan (SIP) in mutual funds through SMS under its 'Invest Easy' initiative.
As per the initiative, investors will be able to start a SIP by sending an SMS through their registered mobile numbers.
"SIP through SMS is the latest service offering from RCAM. This feature will make it cost efficient and convenient for over 900 million mobile users across the country to participate and make investments in mutual funds," Reliance Capital Asset Management chief executive Sundeep Sikka said in a statement.
This new feature has been launched under the company's 'Invest Easy' initiative, which aims to use technology for making it convenient for customers to invest in mutual funds.
"We already have over 2.5 lakh customers under the 'Invest Easy' initiative that allows investors to transact online on the net, on their mobiles, through call center and now using SMS. A large number of our customers are already migrating to the online platform and we see this number growing exponentially through this facility," Sikka said.
He said that the company would strengthen its reach among small-ticket investors through this initiative.