The number of Systematic Investment Plans (SIPs) in mutual funds has more than doubled to 134 lakh in two-and-half years, primarily on account of increased awareness among investors and buoyancy in equity markets, Parliament was informed today. SIP is an investment vehicle that allows investors to invest in small amounts periodically instead of lump sums.
The frequency of investment is usually weekly, monthly or quarterly. As of 31 October this year, the number of SIPs in mutual funds in India was 134.5 lakh, minister of state for finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.
