AgenciesLeading stock exchange BSE said its mutual fund distribution platform, StAR MF, has processed over 12.88 lakh transactions in a single day on Monday. Earlier, it had processed 11.58 lakh transactions on April 13, BSE said in a statement.
With digital transactions ruling the roost due to the outbreak of COVID-19, all mutual funds are channelising their transactions though online platforms.
BSE StAR MF also set its second highest monthly record of 71.93 lakh transaction in September as against its current best of 73.34 lakh transactions in August.
In spite of the nationwide pandemic and lockdown BSE StAR MF has been able to constantly help AMCs, members and their clients in smooth paperless transactions.
Ganesh Ram, Business Head-Mutual Funds, BSE StAR MF said the platform has "relentlessly worked to make mutual fund transactions simpler by working closely with IFAs (independent financial advisers) across India, launching digital initiatives like eKYC, common Empanelment, SIP Pause, Organizing webinars for digital handholding, NFOs launch programs, product/knowledge development, etc".
He said StAR MF regional team has been handholding many distributors during these tough times to switch over to the online platform from physical mode.
With digital transactions ruling the roost due to the outbreak of COVID-19, all mutual funds are channelising their transactions though online platforms.
BSE StAR MF also set its second highest monthly record of 71.93 lakh transaction in September as against its current best of 73.34 lakh transactions in August.
In spite of the nationwide pandemic and lockdown BSE StAR MF has been able to constantly help AMCs, members and their clients in smooth paperless transactions.
Ganesh Ram, Business Head-Mutual Funds, BSE StAR MF said the platform has "relentlessly worked to make mutual fund transactions simpler by working closely with IFAs (independent financial advisers) across India, launching digital initiatives like eKYC, common Empanelment, SIP Pause, Organizing webinars for digital handholding, NFOs launch programs, product/knowledge development, etc".
He said StAR MF regional team has been handholding many distributors during these tough times to switch over to the online platform from physical mode.
