IT may be lagging its arch rival where equity and equity derivative volumes are concerned. But there is some comfort for Bombay Stock Exchange as far as the mutual fund platform is concerned. BSE's mutual fund platform 'Star MF' is having an upper hand over National Stock Exchange's 'NEAT-MFSS' for the time being. If sources are to be believed, BSE has transacted fund units worth Rs 21 crore since December 4, when this facility was opened on the exchange, more than twice than that transacted on the NSE. Though both the exchanges have 10 fund houses listed with them, BSE has more schemes (over 130 schemes) that are eligible to be transacted through the exchange, say brokers. Moreover, BSE has gathered support from several financial advisors, who have been requested to advise their clients to trade through BSE. According to industry sources, the exchange has received confirmed participation from 15 other fund houses who are expected list their funds on the exchange over the next few days.
As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
