New Delhi, Oct. 15 -- Diwali is a festival of lights and a celebration of joy. We exchange gifts with loved ones to make them happy. But what if you twist this gifting ritual a bit this year?

Instead of a physical item, give something that grows in value-a financial gift. A mutual fund scheme or an insurance product can be more meaningful than jewellery, a new phone, clothes or sweets. You can gift them not just to family members but also to friends. Here's how you can gift mutual funds and insurance:

If you are invested in multiple mutual fund schemes and wish to gift one or some of the units to your loved ones, you can do so easily. Earlier, only mutual fund units in demat form could be gifted. The Securities and Exchange Board of Ind...