Investment advisor offers Swiggy vouchers for micro SIPs as SEBI chief clarifies legality

Multipl Wealth Management, a SEBI-registered investment advisor, is under scrutiny for offering Swiggy vouchers as incentives for starting Micro SIPs. Investors can begin seven SIPs of Rs 250 each and receive cashback through the app. SEBI chair Madhabi Buch stated that while such marketing schemes are not illegal, investment products cannot guarantee returns. She emphasized that SEBI focuses on risk mitigation rather than marketing strategies. Multipl, founded in 2020, partners with brands to reward users for future investments. However, there are concerns about the regulatory status of these incentives, as some intermediaries may not be fully under SEBI's oversight.