UTI Mutual Fund, along with its mobile solutions partner, mCheck, today announced the launch of 'UTI Mobile', which would enable an investor to initiate payment instructions for investing in the fund schemes from a mobile phone.
Through this service, a customer could trigger an ECS request from a pre-registered bank account through his mobile phone, a press release issued here stated.
"UTI MF is among the first mutual funds to launch this facility for its investors. Currently, this platform will allow only buying of UTI MF units. Going forward, other transactions will also be included," UTI AMC's Chief Marketing Officer, Jaideep Bhattacharya, said.
To avail this facility, an investor would have to initially fill in the registration form and submit the same to any of UTI Financial Centres or Karvy offices. Post-verification of ECS details, the investor would receive a confirmation subsequent to which he could trigger payment instructions from his mobile phone.