At this point of time I would like to congratulate ICICI Prudential for their initiative to change the economy of India and to support the poor people through SIP . The point to be noted here is that the initiative is taken by a private bank.
RE:SIP for Poor people
by Vikas Vadgama on May 03, 2007 03:11 PM Permalink
It's not SIP for poor people. It's just a reply to the Rs.100 SIP started by Reliance Mutual Fund. I think SIP amounts as small as Rs.50 or Rs.100 will only bring defamation to the Mutual Fund industry. The Rs.500 or Rs.1000 SIP followed by other mutual funds is fair enough. We all know that MFs are subject to market risks. People who will invest Rs.50 or Rs.100 in SIP, I think they will be conservative families with small incomes and small savings. Hence, bank RDs which offer such monthly amounts is good for them as they are safe bets. Who knows the markets 3 years hence or 5 years hence. What if all these people who will start the SIP will suffer losses? I think we will only see more suicides then like we see for cotton farmers now.
RE:RE:SIP for Poor people
by shaun williams on Apr 28, 2007 06:05 PM Permalink
its all about he money. Doubt there is any heart in this initiative. I've been a customer of the bank for years and the service has been worsening. the home loan section is terrible as well so im sure therir investments arm might be the same with the usual terrible service and loopholes
