SBI Mutual Fund has decided to introduce the new payment facility through State Bank of India (SBI) ATM Cum Debit Card for online transaction of its website for its investors. The facility is available under the all schemes except SBI Magnum Insta Cash Fund, SBI Magnum Insta Cash Fund - Liquid Floater, SBI Premier Liquid Fund and SBI Short Horizon Debt Fund - Ultra Short Term Fund. The facility will be effective from 22nd March, 2010. State Bank of India will be set maximum amount of investment through this facility from time to time.

The Indian mutual fund industry reported a growth of 2.7% sequentially, after witnessing two successive sequential declines of 4.1% and 1.6% in January and December, respectively. It was mainly on account of positive inflow by the financial institutions and stabilization in the equity market. In February, the industry's average asset under management (AAUM) stood at Rs7.8 trillion, an increase of Rs20,200 crore.