SIP MOPUP DROP TO `96,000 CR

New Delhi, April 14: The Mutual fund industry saw its collections through systematic investment plans (SIPs) dropping 4 per cent to Rs 96,000 crore in 2020-21. The collection last year was lower than Rs 1,00,084 crore garnered in 2019-20.

Inflows into SIPs have averaged about Rs 8,000 crore for the 12 months. The SIP contribution has increased steadily over the years. From Rs 43,921 crore collected in 2016-17, the SIP contributions hit the Rs 1 lakh crore mark in 2019-20.