SIP additions at a six-month high amid rising churn

In August, the number of new accounts for systematic investment plans (SIPs) soared to a six-month peak, marking significant activity. Nevertheless, the year-on-year growth showcased volatility due to an increase in SIP discontinuations, rising by thirty-one percent. This trend outpaced new account registrations. Despite cooling growth in contributing SIP accounts, net SIP inflows saw a healthy twenty-one percent rise compared to last year, totaling ₹32,297 crore.