Leading stock exchange BSE Wednesday said it has launched ‘BSE StAR MF’ app to enable more participation and help mutual fund distributors process transactions faster. “BSE StAR MF mobile app supports real-time client registration and paperless transactions, creates and uploads mandate for SIPs, generates the basket of multiple orders, tracks and allows the distributor to analyse his business at his fingertips,” the exchange said in a release.
The app can be downloaded from Google Play Store. Once the app is downloaded, the sign up can be done by providing the member identification number, it added.
“The launch of the app would further provide comfort of doing business to our 24,000 members. This app would not only increase their productivity, but would also enable IFAs (Independent Financial Advisors) to take their business anywhere, anytime,” BSENSE -0.48 % Chairman and Managing Director Ashish Chauhan said.
The mobile application will also be provided to individual investors shortly, he said.
BSE StAR MF is the exchange’s mutual fund platform which helps distributors purchase and redeem mutual fund units on behalf of their clients.