BSE StAR MF registers 14.1 million transactions worth Rs 36,277 cr in Aug

Leading stock exchange on Tuesday said its mutual fund distribution platform StAR MF has processed a record 1.41 crore transactions worth Rs 36,277 crore in August.

It surpassed its all-time highest monthly record of 1.32 crore transactions achieved in July, the exchange said in a statement.

The transactions come amid a devastating COVID-19 outbreak and distributors channelising their transactions through online platforms, the exchange added.

Overall, the platform achieved 6.28 crore transactions in the first five months (April-August) of the current financial year as compared to 9.38 crore transactions in the entire 2020-21.

Besides, the platform registered 9.09 lakh new systematic investment plans (SIPs) amounting to 212 crore in this month, the exchange said.

The exchange had launched the StAR MF app to help distributors and independent financial advisors to register clients on a real-time basis.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Share Market Today