Multiple choice general knowledge

In the context of Mutual Funds, SIP stands for..

  1. Systematic Investment Plan

  2. Scheduled Interest Plan

  3. Specific Insurance Plan

  4. Special Income Plan

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A Correct answer
Explanation

In Mutual Funds, SIP stands for Systematic Investment Plan. It is an investment strategy where an investor invests a fixed amount regularly in a mutual fund scheme, promoting disciplined investing and rupee cost averaging.