SIP wave hits record level, more to come

India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013.

MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds.

By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.

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