Continuing its stellar performance, mutual funds distributor platform BSE StAR MF processed over 70.36 lakh transactions amounting to Rs 24,714 crore in March.
This was the record number of transactions achieved in a month. Prior to this, the highest figure was 57.33 lakh in February.
In spite of the nationwide lockdown, BSE StAR MF has helped asset management companies (AMCs), members and their clients in smooth, automated, paperless transactions, witnessing a 23 per cent hike in transactions as compared to the previous month, the platform said in a statement.
In comparison, BSE StAR MF had witnessed 37,72,835 transactions in March 2019.
Overall, the platform achieved 5.75 crore transactions in the just concluded financial year 2019-20.
The platform registered 2.84 lakh new systematic investment plans (SIPs) amounting to Rs 82 crore in March this year. At present, total SIP book size stands at 38.96 lakh amounting to Rs 1,120 crore.
Besides, distributor count has seen a spike to 56,861 as on March, 2020 from 23,041 in the same month last year.
BSE StAR MF App (StAR MF Mobility) has processed over 3.69 lakh transactions since its launch in May 2019, amounting to Rs 2,881 crore.
The app was launched to help distributors and independent financial advisors register clients on real-time basis and execute paperless transactions.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app