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Which is the first digital investment platform to launch UPI based AutoPay functionality for its MF SIP Investments in India?
A)
PhonePe
B)
Paytm
C)
Google Pay
D)
MobiKwik

Correct Answer :   PhonePe


* PhonePe became the first digital investment platform to launch UPI based AutoPay functionality for its Mutual Fund (MF) Systematic Investment Plans ( SIP) and offerings in India. The UPI AutoPay function will be available for existing as well as new investors on PhonePe app.

* SIP is an investment route offered by Mutual Funds. In SIP, one can invest a fixed amount in a Mutual fund scheme according to their will at regular intervals.

* SIPs are open-ended. Customers can initiate, pause, restart and terminate SIP at any time.

* PhonePe  was founded in 2015 and was later acquired by Flipkart in 2016. Its headquarter is in Mumbai and Sameer Nigam is the current CEO of PhonePe.

Published On : August 4, 2021
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