Mumbai, Oct. 6 -- Systematic investment plan (SIP) flows have held up despite Indian benchmark equity indices correcting 10% over the past two years. But that resilience is now facing its toughest test.

SIP contributions hit a record Rs.32,297 crore in August 2026, the highest monthly inflow ever, showed data from the Association of Mutual Funds in India (Amfi). This steady stream of domestic money has helped keep the Indian market resilient even as foreign investors have remained cautious, said Sid Swaminathan, managing director and chief executive of Jio BlackRock Asset Management Pvt. Ltd, which manages over Rs.22,000 crore worth of assets.

"But the headline SIP numbers mask some churn. There are significant stoppages and cancellatio...