The RBI raised its rate to 5.5%. It expects inflation of 5.8%.
India's first rate hike in 3 years 8 months takes the repo rate to 5.50%. The RBI's own forecast puts inflation at 5.8% for October 2026 to June 2027.
CapitalVia Research Desk ·
Data story
28 Sep 2026
28 Sep 2026
India started 66 lakh SIPs in August. It also ended 54 lakh.
SIP collections hit an all-time monthly high of ₹32,297 crore. Underneath the record, the bucket leaks: almost as many SIPs close as open.
April–August 2026, all of India
89SIPs ended for every 100 started
2.88 crore new SIPs were registered this financial year so far. 2.58 crore were discontinued or ran their full tenure. The net gain: just 30.47 lakh.
Started
288.22 L
Ended
257.75 L
Net
+30.47 L
New SIPs vs SIPs that ended, month by month
Number of SIP accounts, in lakh · FY 2026-27 so far
New SIPs registeredDiscontinued or tenure completedMore ended than started
Apr2026
50.71
51.29
May2026
54.16
51.70
Jun2026
55.51
50.64
Jul2026
61.44
50.30
Aug2026
66.40
53.82
In April, India's SIP book shrank: 58,000 more SIPs ended than started. Every month since, starts have won.
+12.58lakh
Net new SIPs in August, the best month of the financial year. The leak is narrowing: SIPs ended per 100 started fell from 101 in April to 81 in August.
Apr 101May 95Jun 91Jul 82Aug 81
Ended per 100 started, by financial year
SIPs discontinued or tenure-completed ÷ new SIPs registered × 100
FY 2023-24
52
FY 2024-25
76
FY 2025-26
95
FY 2026-27Apr–Aug
89
Dashed line = 100, the point where every new SIP is cancelled out by one that ends. Last year it reached 95: 7.19 crore started, 6.80 crore ended.
If you're salaried
Under SEBI's rule, a monthly SIP is treated as discontinued after three consecutive failed instalments. The "ended" count also includes SIPs that simply ran their full term; AMFI does not split the two. The industry's record inflow says nothing about whether any single SIP lasted.
If you're a founder
Getting people to start is not the bottleneck: 2.88 crore SIPs were opened in five months. Keeping them is. If you build fintech, payroll or employee-benefit products, retention is where this market leaks.
If you set budgets
Registered is not the same as paying. AMFI counts 10.75 crore SIP accounts on the books but 10.02 crore contributing in August, a gap of 73.5 lakh. For payroll-linked savings schemes, enrolment overstates participation.
₹32,297 cr
SIP inflow, Aug 2026 (+14.3% on-year)
10.02 cr
Contributing SIP accounts (8.99 cr a year ago)
21.4%
Share of all MF assets now held via SIPs
≈ ₹3,224
Average monthly inflow per contributing account (derived)
More from Insights
All stories₹1.96 lakh crore flowed into government small savings in five months. That is 73% more than a year ago.
Net inflow into government small-savings schemes hit ₹1.96 lakh crore in April–August 2026, against ₹1.14 lakh crore a year earlier. That is 74% of the full-year Budget estimate.
A new bank FD beats inflation by 0.85 points. Before tax.
New fixed deposits earned 5.67% in August against 4.82% inflation. The 0.85-point cushion was 2.92 points in January, and tax wipes it out from the 15% slab up.