As many as 1.67 million new systematic investment plans (SIPs) were registered in March, the highest for the financial year 2020-21 and 42 per cent more than the monthly average for the year. The number of SIPs discontinued also fell to 0.71 million in March, from 0.79 million in the previous month.
Total contribution through the SIP route also rose to Rs 9,182 crore in March, against Rs 7,528 crore in February. Total SIP contribution in FY21 stood at Rs 96,000 crore, against Rs 1 trillion seen in FY20 – which, industry players said, was encouraging for a pandemic-stricken year. Also ...
