Skip to main content

LIC Mutual Fund rolls out UPI mode of payment for Investment

LIC Mutual Fund Asset Management Company announced its readiness on Unified Payment Interface (UPI) as mode of payment for its investors to invest in LIC Mutual Fund schemes. 

This initiative will not only transform into an electronic payment process but also deliver operational ease and benefits. It will further lend a hand to the investors in leveraging the UPI platform in terms of interoperability and real- time money transfer making the transaction experience user- friendly and hassle free. 

Speaking on this initiative, Ms. Sarojini Dikhale, CEO of LIC Mutual Fund Asset Management Ltd. said “We are delighted to announce our readiness on UPI platform in partnership with one of the leading and forward looking bank; The Standard Chartered Bank. This will enable our Investors to invest in our schemes with more ease with this new platform. We are very excited with this offering which is not only Industry first but also in line with our strategic vision towards Digital Transformation.”

Adding to the development, Mr. Prashant Thakkar, Chief Technology Officer & Head – Strategy, asserts, “UPI will open up a new avenue of transacting for Mutual Fund Investors and we are keen to harness the opportunities it offers to build and deliver more progressive solutions around it to our investors. To start with, we will offer this solution to our existing investors through our web based Online investment channel ( for lump-sum Purchase, which will soon be extended for SIP purchase as well, for existing, new and first time investors in LIC Mutual Fund. In the next stage, we will have a complete integration with mobile app based solutions.”

Through UPI, LIC MF will be able to reach out to the young millennial and facilitate them to start investing in the early stage of life. It will further facilitate to break in to a wider mobile penetration reaching out to the tier 2, 3 and 4 towns of India, which have a huge investment potential.


Popular posts from this blog

Cloud Computing powering India’s priority of ‘Digital-first country’

By: Sunil Mahale, India MD and VP, Nutanix
Digital transformation has been recognized as being vital to the growth of our nation. This transformation has enjoyed the unanimous approval and contribution from all stake holders including enterprises, MSMEs, government bodies and citizens. But this level of adoption in a country with a population of over a billion people would need a robust technology base that is capable to collecting and distributing vital data seamlessly.
Digital India envisions creating high speed digital highways, that will impact commerce and create a digital footprint for every individual. Technologies based on mobility, analytics, Internet of things and most importantly, cloud technologies are the building blocks for the digital India missionThere is a growing need to manage huge volumes of data, and making them readily available to public through digital cloud services. Cloud has a pivotal role in enabling this change.
While Data centers have become crucial to th…

RevStart launches its RevItUp Incubation Programme

Underlining its vision of creating a nurturing ecosystem for start-ups to grow in, RevStart, a co-working and incubation centre, has announced the launch of its RevItUp Incubation Programme. The 12-week long programme will be held at RevStart Incubation Centre in Noida from July 1, 2018 onwards. As part of the programme, RevStart will select five high potential start-ups from the ed-tech sector, AI, Consumer Internet, Sustainability, as well as for-profit social impact companies to assist them with developing their business, along with connecting them to global mentors across industries and sectors. In addition, start-ups selected for the programme will receive INR 5 lakh to Rs. 25 lakhs worth of cash and benefits, while RevStart will get an equity stake in the ventures.
The RevItUp Incubation Programme has been created to enhance the founding team’s industry, product, and company building knowledge and capabilities through a world-class curriculum. The programme will focus on tailor…

Insurtech startup Kruzr raises $1.3 Million from Saama Capital and Better Capital

InsurTech startup Kruzr has raised 1.3 Million USD (Rs. 9.5 Cr) for its seed round led by Saama Capital with participation from Better Capital. Kruzr is a preventive motor insurance technology which helps insurance companies personalize policy premiums & improve their risk model by delivering an engaging preventative driving assistant to their customers. Kruzr is founded by Pallav Singh, Ayan, and Jasmeet Singh Sethi.

Kruzr blends the power of voice technology and artificial intelligence in its personal driving assistant that helps drivers minimize mobile distractions, drowsy driving, speeding and external risks like weather and accident-prone zones. In pilots with insurers, Kruzr managed to cut down distracted driving by 80%. Kruzr is working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents & improve claims.

“Road accidents cause over 1.3 million deaths globally every year, and motor insurance companies los…