Staring an investment in MF

[werkar27]

Hi All

I'm a newbie to the world of investing and would like to know the best options in MF. Currently I need a monthly income plan and a growth plan. I can invest a maximum of Rs. 5000 - 7000 a month. I've looked around and come with these options:

SBI Magnum Emerging Businesses Fund (G) Rs. 2000 pm
Birla Sun Life MNC Fund (D) OR Birla Sun Life MIP (D) Rs. 3000
Recurring Deposit with ICICI or IDBI - Rs. 2000

Im 23 and my ultimate goal is to start my own computer repair business. I also need a steady monthly income from one of these plans. I currently work in a BPO. Please let me know if I've made the right choice?

Thanks and Regards
Aniket