Equity MF inflows fall to ₹24,697 crore in July; SIP contributions cross ₹31,000 crore for 10th straight month

•Equity MF inflows fell to ₹24,697 crore in July from ₹28,961 crore in June.

•SIP contributions rose 0.3% to ₹31,961 crore in July, with 10.63 crore contributing accounts.

•Mutual fund industry AUM rose 4.3% to ₹85.76 lakh crore in July, supported by higher market valuations and sustained buying.

•Retail mutual fund AUM increased to ₹50.69 lakh crore, with 21.40 crore retail folios.