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Bombay Stock Exchange (BSE), the oldest stock exchange in Asia, on 15 May 2019 launched the BSE StAR MF app. The application is expected to enable more participation and helps mutual fund distributors to process transactions much faster. The application allows MF distributors to purchase and redeem units of mutual funds on behalf of their clients.
BSE in a release said that the BSE StAR MF app facilitates real-time registration, transactions, and generating a basket of multiple orders. It also provides an option of uploading a SIP mandate. The MF app is expected to enable the mutual fund distributors to analyse their business in a much simpler way.
Also Read: SEBI permits Mutual Funds to enter Exchange-traded commodities
The chairman and managing director of the BSE said that the MF app would help their 24,000 members to do business at comfort. The application would increase their productivity and also enables independent financial advisors (IFAs) to do business anywhere, anytime.
BSE said that a mobile application would be released to individuals shortly.
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