Mutual fund SIP inflows surge 12% to Rs 31,961 crore

Many people in India save money every month through something called a Systematic Investment Plan, or SIP for short.

This money goes into mutual funds, which are big pools of money managed by experts.

In July, people put in even more money through SIPs than they did a year ago.

The total came to Rs 31,961 crore, which is 12.28% more than last year.

Compared to June, the increase was smaller, only about half a percent.

The whole mutual fund industry took in a lot of new money in July, after losing money in June.

Money that goes into small-company funds grew the fastest.

Because of all this money coming in, the total value of money managed by mutual funds went up to Rs 85.76 lakh crore.

The number of people investing in mutual funds also grew.

This shows that regular people in India are still excited about investing their savings.