Nilesh Shah on SIP day | OLM Interaction
Nileh Shah, MD, Kotak Mahindra Asset Management, speaks about the reason of celebrating August 26 as SIP day and more.
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00:00 So, the whole idea came around Valentine's Day where I had tweeted that we are in the
00:16 habit of celebrating Valentine's Day and today it has become a craze.
00:21 Twenty years back many of my generation didn't know what Valentine's Day was.
00:27 Now can we not create similar awareness, similar enthusiasm for SIP Day which then encourages
00:34 habit of regular investment.
00:36 SIP is popular with 1 crore Indians, why can't it be popular with 100 crore Indians?
00:43 And on that we got some encouraging feedback from our customers, from our distributors
00:49 saying that yes, it will be worth doing an SIP Day.
00:53 And we worked with certain like minded people and we thought we will celebrate.
00:59 And 26th August was chosen as a random day, there was no particular science behind it,
01:03 it was just a good day to begin with.
01:06 So we chose 26th August, we involved lots of customers, lots of distributors.
01:12 We reached out to start-off society which generally don't do SIP like the firemen,
01:18 like the police, like the dabbawalas, like the vegetable vendors and so on and so forth.
01:25 We collected 30,000+ applications and in whole of 2014 we had collected 30,000 applications.
01:33 So in one day we did what we did in 2014, not so long back.
01:39 And more importantly I think this is a concept which has caught on, even today distributors
01:48 remind us of SIP and say that sir you will continue this going forward also.
01:53 And we said yes, we are committed to it, we will not rest till such time we make it as
01:57 successful as a Valentine Day.
01:59 [Music]