New Delhi, Feb. 17 -- The chairman of State Bank of India (SBI), C.S. Setty, announced that the bank will not charge any commission under its new 'Jan Nivesh' scheme. The initiative, aimed at furthering financial inclusion across India, is a significant step toward empowering underserved segments of the population with the tools to invest and save.

Setty announced the launch of the 'Jan Nivesh SIP' scheme, which offers micro-systematic investment plans (SIPs) starting from as low as Rs.250. He assured that SBI, as part of its commitment to financial inclusion, would provide this service free of charge, with no commissions, thus ensuring that every Indian has access to affordable and transparent financial services.

Madhabi Puri Buch, the...