Monthly Systematic Investment Plan inflows into Indian mutual funds touched a record Rs 28,240 crore in April 2026, up 22% year-on-year and surpassing the previous record of Rs 25,900 crore set in March 2026, according to data released by AMFI. The relentless growth in SIP flows reflects the deepening penetration of mutual fund investing among India's middle class, with active SIP accounts now exceeding 9.2 crore.
Equity-oriented categories — including large-cap, flexi-cap, midcap and small-cap funds — accounted for Rs 20,800 crore of the total SIP inflows, with small-cap and midcap categories attracting disproportionate flows as retail investors chased recent outperformance. Sectoral and thematic funds, particularly defence, infrastructure and manufacturing-themed funds, also reported strong new SIP registrations following their stellar 40-50% returns over the past 12-18 months.
The SIP engine has become a structural feature of India's equity market, providing Rs 22,000-28,000 crore of predictable monthly buying that has helped moderate market volatility even during periods of FII selling. AMFI data shows that the average SIP ticket size has increased from Rs 2,400 per month in 2020 to Rs 3,060 in 2026, indicating that investors are making larger recurring commitments as they gain confidence in the mutual fund platform and understand the benefits of rupee cost averaging over longer time periods.
