His comments come amid rising market volatility and the growth of discontinuation of SIPs outpacing that of new registrations in the face of a looming global recession.
"SIP is here to stay as a way of investing in mutual funds, as a headline number of ₹13,500 crore-plus reflects rise in new registrations, more people coming in through MFs.... Having said that when another asset class, like bank FDs or fixed income, becomes attractive, we might see some stoppages. But, at the end of the day it is an upward trend and SIP as an asset class would become permanent as far as mutual funds are concerned," he added.
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