The ratio of fresh SIP registrations to the closure of old SIPs saw a sharp rise in June, with a large number of new SIPs being registered. SIP stands for Systematic Investment Plan, a system of investing a fixed amount in a mutual fund every month. Data released by Amfi (Association of Mutual Funds in India) shows that 21.3 lakh fresh SIPs were launched compared to 7.63 lakh SIPs which indicates that for every SIP stopped almost 3 new SIPs were launched.
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