Nippon India Mutual Fund, formerly known as Reliance Nippon Life Asset Management now offers to invest in 'Nippon India Liquid Fund' through WhatsApp. "This facility will allow existing investors (Resident Individuals) to subscribe the units of Nippon India Liquid Fund (Growth Plan/Growth Option) through WhatsApp," says the AMC website. To avail this facility existing investors will have to save “+91 8433938264" on their mobile phones. Once the number is saved, they can just send a 'Hi' message through their registered mobile number to start the conversation.
If you are not an existing investor in Nippon India Mutual Fund, the WhatsApp bot will direct you create a folio in an absolutely paperless manner. Once the folio is created, you can come to WhatsApp and use the facility to invest in liquid fund. This facility also allows investors to check the current KYC status.
Other mutual fund houses like HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, ICICI Prudential Mutual Fund and Motilal Oswal Mutual Fund also allow transactions through WhatsApp. They offer wider options including financial and non-financial transactions through WhatsApp. These AMCs also allow you to redeem through their WhatsApp facility. The procedure for all the AMCs remain same. Save the specific number in your mobile phone and send a 'Hi' to start interaction.