New Delhi, March 29 -- What do you gift someone who wants to start investing but doesn't know where or how to begin?

The Securities and Exchange Board of India (Sebi) may have an answer.

In a recent consultation paper, Sebi proposed the introduction of Gift Prepaid Payment Instruments (Gift PPIs) - prepaid cards or digital vouchers that can be bought and gifted, and redeemed only for investment in mutual funds. The idea was originally proposed by AMFI (Association of Mutual Funds in India).

Think of it like an Amazon or Flipkart gift card. You load it with money and hand it over. But instead of shopping, the recipient can use it only to invest in a mutual fund scheme.

Sebi has proposed two pathways for scheme selection, recognising th...