SIP stoppage ratio jumps above 115 pc in October; SIP inflows stand at Rs 32,160 crore

Mumbai: The systematic investment plan (SIP) stoppage ratio rose sharply to about 115.7 per cent in October 2026, reversing five consecutive months of improvement, according to industry data on Wednesday.

The rise in the ratio came even as monthly SIP contributions remained resilient at over Rs 32,000 crore. According to the latest industry data, SIP inflows stood at Rs 32,162 crore in October, marginally lower than the record Rs 32,490 crore recorded in September.

During October, around 59 lakh SIP accounts were either discontinued or completed their tenure, while only 51 lakh new SIPs were registered.

This implies that for every 100 new SIPs added, nearly 116 SIPs were discontinued or matured, pushing the stoppage ratio above the 100 per cent mark.

The ratio increased by nearly 37 percentage points from September, when 49.68 lakh SIPs were discontinued or completed against 63.26 lakh new SIP registrations, resulting in a stoppage ratio of 78.5 per cent.

Industry data showed that new SIP registrations fell by about 19.4 per cent month-on-month in October, while the number of discontinued or completed SIPs rose by nearly 18.8 per cent.

The combination of weaker registrations and a rise in closures or maturity-led exits led to the sharp increase in the stoppage ratio.

The latest reading marks a significant reversal from the trend seen over the previous five months. The SIP stoppage ratio had steadily declined from 101.14 per cent in April to 95.46 per cent in May, 91.23 per cent in June, 81.87 per cent in July, 81.05 per cent in August, and 78.53 per cent in September.

October's estimated ratio of 115.69 per cent is the highest recorded in the seven-month period -- indicating that SIP discontinuations and tenure completions outpaced fresh registrations after months of gradual improvement.

However, market participants cautioned that the stoppage ratio should not be viewed in isolation. The discontinued SIP count also includes investment plans that have reached their scheduled maturity and does not necessarily represent investors exiting the market prematurely.

They noted that metrics such as overall SIP contributions, the number of active SIP accounts and contributing investors provide a more comprehensive picture of retail participation through the SIP route.

Despite the increase in the stoppage ratio, monthly SIP collections remained above the Rs 32,000-crore mark, as per the report.

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