The State Bank of India (SBI) and the SBI Mutual Fund have launched Jannivesh SIP, a low-cost investment initiative aimed at making mutual fund investments accessible to a wider audience. Speaking at the launch of the Jannivesh SIP scheme, the Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch described it as “one of my fondest dreams”. In a press release, SBI mutual fund highlighted that this initiative is designed to make mutual funds accessible to first-time investors, particularly those from lower-income groups. “The concept of serving the bottom of the pyramid while ensuring profitability is now a reality,” Buch added. Aligning with Sebi's Vision for Financial Inclusion The small-ticket SIPs align with Sebi’s vision for financial inclusion. In December 2023, the capital market regulator announced its collaboration with the mutual fund industry to explore the feasibility of launching SIPs as low as ₹250 per month. The goal was to encourage participation from individuals at the “bottom of the pyramid”. Building on this idea, Sebi outlined its vision in a consultation paper last month, focusing on expanding mutual fund reach, “Sachetisation”—allowing small-ticket investments for gradual wealth creation, and empowering underserved communities. The ₹250 SIP Initiative Although some mutual fund houses offer SIPs as low as ₹100 per month, the ₹250 SIP initiative seeks to bring the entire industry together in promoting financial inclusion, the paper noted. Democratising Wealth Creation SBI mutual fund emphasizes that Jannivesh SIP will democratize wealth creation, making investing easier for millions while supporting India's vision of a financially inclusive economy. Nand Kishore, MD CEO, SBI MF, highlighted: “We aim to attract first-time investors, small savers, and workers from the unorganized sector” to help them build wealth in a secure way. Key Features of Jannivesh SIP Who Can Benefit? AMCs offering SIP plans at just ₹100 include: