Mutual fund platform BSE StAR MF platform on Monday processed a record 3.05 crore monthly transactions in July 2023. The platform helps people invest in mutual funds online and is becoming increasingly popular among investors due to its efficiency and convenience.

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The monthly transactions rose 5.4 percent on July 23 against 2.90 crore for June this year. If calculated on a year-on-year basis, monthly transactions rose 65.9 percent on July 23 against 1.84 crores for July 2022, the exchange said in a press release.

The BSE StAR MF platform processed a record-breaking 2.90 crore transactions in June 2023. The BSE StAR MF platform has witnessed a rising number of transactions this year.

In the first quarter of the financial year 2023-24, there was a 39 percent rise in transactions, reaching 8.27 crore compared to 5.94 crore in the same period last year.

BSE StAR MF is India's largest regulated Exchange-based online Mutual Funds distribution platform. The platform registered 20.28 lakh new SIPs amounting to Rs 516 crore.

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