The BSE StAR MF platform processed a record-breaking 2.90 crore transactions in June 2023, according to a statement on Friday, June 30. This platform, which helps people invest in mutual funds online, is becoming increasingly popular among investors due to its efficiency and convenience.
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The number of transactions on the BSE StAR MF platform has been steadily increasing. In the first quarter of the financial year 2023-24, there was a 39 percent rise in transactions, reaching 8.27 crore compared to 5.94 crore in the same period last year. This shows that more and more people are using the platform to invest in mutual funds.
In June 2023, the platform saw a 3.4 percent increase in monthly transactions, totalling 2.90 crore. The platform's ability to handle a large number of transactions efficiently is also evident from this achievement.
Additionally, in June 2023, the platform welcomed 16.72 lakh new systematic investment plans (SIPs), which amounted to Rs 428 crore.
As of June 30, 2023, the platform had a total of 2.15 crore active SIPs, further solidifying its position as one of the preferred choices for mutual fund investments among asset management companies (AMCs) and mutual fund distributors.
BSE, established in 1875 and previously known as the Bombay Stock Exchange, is not only the first stock exchange in Asia but also the fastest in the world, with an impressive processing speed of six microseconds.
It plays a significant role in developing the Indian capital market and provides a transparent and efficient platform for trading various financial instruments, including stocks, bonds, and mutual funds.
