Online Transaction Platform
BSE (Bombay Stock Exchange), established in 1875, is Asia's oldest stock exchange. BSE has a proven and time-tested trading and settlement platform, assuring efficient on-time transactions - and is a Self-Regulatory Organization (SRO) ensuring transparency to all stakeholders. It has ISO certified processes governing clearing and settlement, Information Technology and Surveillance, and it offers seamless settlement processes supported by state-of-the-art clearing and systems.
BSE’s Star MF platform is a secure, feature-rich and highly flexible tool that allows you to transact in Mutual Funds safely using BSE’s world-class technology platform. Lakhs of investors across India are now transacting without paperwork, through the Star MF platform. In fact, over 1.6 lakh new SIP’s were started through the platform in January 2018 alone. On February 12th, 2018, 3.6 Lakh Mutual Fund transactions took place on the platform in a single day!
BSE StAR is the country’s largest platform for facilitating mutual fund investment transactions!
Process-wise, the first leg of your MF transaction involves the collection of money for the application or units for redemption. In order to execute this, BSE and its Clearing Corporation - the Indian Clearing Corporation Limited (ICCL) will be responsible for sending the same to RTAs (Registrar Transfer Agents – the folks who manage information flow on behalf of Mutual Fund Companies). The above stated actions require a mandate – which is essentially an authorisation from your side to allow your Advisor to initiate the above stated orders on your behalf. When this mandate gets registered, your bank informs you of the same. In fact, BSE has recently taken things a step further by introducing the e-mandate (which further cuts TAT’s to just 3 days), for which as many as 40 banks have already registered so far!
As a standard practice, we offer online and paperless transactions to all our clients. For this, FinEdge has tied up with Bombay Stock Exchange StAR MF platform so that we can have the best and largest paperless platform available in the country as a part of our offering to our clients.
Today, we have clients in more than 600 cites and 32 Countries who are using this BSE StAR platform for all their mutual fund transactions making their entire investment experience secure, paperless and hassle free!
At the time of onboarding, we had sent you the BSE StAR registration and mandate form and the mandate was registered subsequently.
First, because the entire investment process is highly secure, and is backed by a parent of the highest possible pedigree. Second, because you retain complete control over the process at all times – that is, your Advisor can only initiate a transaction on your behalf. The final execution is done by you via an OTP – just as you authorise payments on your credit card or Net Banking account. In other words, despite the mandate, you hold the “steering wheel” at all times!
Almost all the Mutual Fund Houses and Lakhs of investors across the country are currently using the BSE StAR platform to make their investments effortless and quick.
No, this mandate cannot be used for any purpose other than facilitating your Mutual Fund investments.
FinEdge, as your advisor does not have authority to do any transaction from your account and you do not need to worry about any financial misuse of your bank account.
The mandate amount is essentially the maximum limit set for a daily transaction amount. Although the platform allows us to register mandates for upto Rs. 1 Crore, we believe that Rs. 1 Lakh is a sufficient mandate amount. In the past, many of our clients have expressed last minute desires to deploy moneys into liquid funds for short periods, invest in NFO’s that are closing in a day, or invest lump sums on a day when markets have fallen heavily. To avoid having to run back and forth at the last minute to create a new mandate with a different limit, we advise you to sign up with a mandate for a higher sum.
Absolutely. At any point in time, you can cancel this mandate directly, by visiting your bank. Alternatively, you could contact your Financial Advisor, who will deactivate your UCC (Unique Client Code), rendering the mandate unusable.
Paperless Mutual fund Transactions: Once your BSE mandate has been registered you can initiate transactions, start SIP’s, redemptions etc quickly and without going through the stress of sending documentation.
Faster Execution: no more frustrating execution delays while waiting for forms to be collected and dispatched by a courier service. You instruct - we execute. You can virtually execute all types of MF transactions via BSE StAR.
A Better Experience: The platform provides you with a completely hassle-free and secure way of transacting – redemptions, lump sum purchases, increase in SIP amounts, switching of funds etc. across all Asset Management Companies (Mutual Fund houses)
Secure: You have the assurance in the best of encryption technology and data safety from Bombay Stock Exchange. While your advisor can initiate transactions on your behalf, you need to confirm he transaction through the OTP which will be sent to your registered number by BSE directly. The initiated transaction will happen only once the SMS OTP confirmation is received by BSE from you!
BSE Star MF processes record 3.6 lakh transactions on Feb 12 (click on link below to read):
BSE Star MF processes 1 crore transactions worth Rs 75,000 crore (click on link below to read): https://economictimes.indiatimes.com/markets/stocks/news/bse-star-mf-processes-1-crore-transactions-worth-rs-75000-crore/articleshow/62087340.cms
BSE to launch paperless e-mandate facility on MF platform (click on the link below to read):