Bengaluru, December 21, 2023: Aditya Birla Sun Life AMC Limited (ABSLAMC), a subsidiary of Aditya Birla Capital Limited and investment manager for Aditya Birla Sun Life Mutual Fund, has launched the UPI AutoPay feature for SIP payments by investors. The UPI AutoPay option, facilitated by NPCI, enables an investor to start a SIP using UPI Autopay in just “one-click”.
With the UPI AutoPay feature, an existing or new investor can create e-mandates using any UPI application, allowing for hassle-free management of recurring payments. A predefined SIP amount will be automatically debited from the investor’s bank account on the specified date of the month post-registration.
UPI AutoPay is a safe and user-friendly method for recurring payments. It allows real-time registration of payment mandates instantly and facilitates easy and immediate transactions. As it is a paperless process, it eliminates the need for documentation and paperwork. It also ensures SIP payments are not missed and removes the need for setting up reminders.
Mr. A. Balasubramanian, CEO and MD of Aditya Birla Sun Life AMC, said, “The UPI AutoPay option is a significant leap towards simplifying and securing the investment process. This innovation not only enhances the convenience of recurring payments but also reinforces our commitment to providing our investors with cutting-edge financial solutions. This initiative aligns with the mutual fund industry’s move towards digitization, marking a significant advancement in the way investors manage their SIPs. Aditya Birla Sun Life Mutual Fund remains committed to delivering innovative solutions that cater to the evolving needs of our valued investors.”
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