<ul><li>Mutual funds industry marked 1.62 crore SIP folios as 'cancelled' in April, resulting in a 13% reduction in outstanding SIP accounts.</li><li>The drop in SIP folios was a result of a one-time clean-up by the mutual fund industry to comply with SEBI's regulatory norms.</li><li>This clean-up addressed legacy SIPs that failed prior to SEBI's guidelines but were not eliminated from the system, with no impact on SIP inflows.</li><li>Gross inflows through SIPs reached a record high of Rs 26,632 crore in April, with 8.38 crore contributing accounts indicating strong active participation.</li></ul>

Mutual Funds Industry Undertakes One-Time Clean-Up Of SIP Folios

Discover more