If you don’t and the SIP debit request gets rejected due to insufficient balance in your bank savings account, you may have to pay a penalty to your bank With some companies already resorting to pay cuts and lay-offs, and small businesses being hit due to the ongoing covid-19 lockdown, regular cash flow has become a problem for many.
This will directly impact your regular payments such as equated monthly instalments (EMIs), systematic investment plans (SIPs) and utility bills.
Your EMIs can be taken care of by the moratorium offered by banks and you can’t avoid paying utility bills. But if you think you can’t service your SIPs, it’s better to stop or pause them.