Paytm partners with SBI Mutual Fund for JanNivesh SIP in line with Viksit Bharat

One97 Communications Ltd, the parent firm of fintech Paytm, announced a partnership with SBI Mutual Fund, India’s largest asset management company, and launched the JanNivesh Rs 250 SIP, in line with the Government of India’s vision for a Viksit Bharat by enabling financial inclusion and empowering citizens to invest in their future.

This will be done via Paytm's wholly owned subsidiary, Paytm Services Private Limited (PSPL), an AMFI-registered mutual fund distributor. This initiative, launched by SEBI Chairperson Madhabi Puri Buch and SBI Chairman Shri C. S. Shetty, enables users to begin their investment journey with just Rs 250, making financial growth accessible to all, the company said in its filing to stock exchanges.

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The JanNivesh SIP initiative aims to empower citizens to contribute towards India’s financial and economic growth. It offers individuals a simple, affordable entry into wealth building through small, regular investments, facilitating participation in key financial instruments with just Rs 250.

Additionally, it provides flexible SIP options—daily, monthly, or weekly contributions—to suit varied financial needs and preferences. This step is pivotal in encouraging financial literacy and economic inclusion and supporting the Viksit Bharat journey, the statement added.

The latest offering will be available on the SBI Yono app for all its users and other fintech platforms such as Paytm. It is designed to enable small savers and first-time investors from rural, semi-urban, and urban regions to invest to bring them into the ambit of financial inclusion.

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Commenting on the launch, D.P. Singh, DMD & Joint CEO of SBI Mutual Fund, said, “We have launched the JanNivesh Rs 250 SIP, a key initiative that brings us closer to our goal of promoting financial inclusion. Through our partnership with Paytm and other fintech players, we are offering millions of Indians an easy and flexible entry point to begin investing in their future. This is an important step in our shared vision for a Viksit Bharat, where every citizen has access to wealth-building opportunities.”

Vijay Shekhar Sharma, Founder & CEO of Paytm, said, “We are excited to participate in the Government of India’s Viksit Bharat vision with the launch of JanNivesh Rs 250 SIP on Paytm, in partnership with SBI Mutual Fund. The mutual funds market currently has over 100 million investors, and we are thrilled to be part of the journey towards expanding this to 300-400 million mutual fund investors."

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