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Micro SIPs refer to Systematic Investment Plan in mutual funds of very small amounts. Earlier SIPs that did not exceed Rs 50,000 per year were exempted from KYC norms and were called as micro SIPs. But from 2011 all mutual fund investments need to satisfy KYC norms. Although the size of investment for micro SIP is not defined some mutual funds have SIP of Rs 50 or Rs 100 under micro SIP.