I recently came across this invest@ease from ICICI bank which provide Mutual Funds purchase and online transactions.
http://icicibank.com/Personal-Banking/investments/mutual-funds/mutual-funds-online.html
At the outset it seems like fundsindia.com; And hence no charges for SIPs and it does not involve demat.
Anyone has some more information on this? Is it advisable to go through this route for my fund investments?