Penalty for mutual fund SIP non-payment can cost more than your SIP amount

Penalty for SIP failure: A Reddit user pointed out that ICICI Bank levied charge of Rs 590 as his father's bank account did not have sufficient money at the time of his SIP auto-payment. Sanjeev Govila says that the penal charges appear disproportionate to the nature of the failure, impacting small investors disproportionately. Read more.