Jagat Joshi
As of March 2026, the number of unique investors in rural/semi-urban regions stood at 3.39 crore, compared to 3.26 crore at the end of March 2025. Mutual Fund investors in rural and semi-urban regions grew by just 3.8% in FY2026.
Mutual funds have divided regions in India into two main categories. The top 30 cities are categorized as T-30, and apart from the top 30 cities, the remaining regions are categorized as B-30.
According to SEBI, the T-30 (Top 30 cities) includes tier-1 cities: Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune, and the remaining 104 cities come under Tier-2 cities, which include Agra, Amritsar, Bhiwandi, Bhubaneswar, Jamshedpur, etc.
The remaining smaller towns and rural areas come under Tier-3, which are categorized in B-30.
In the financial year 2025-26, in Tier-2, the number of unique investors in MF increased to 38 lakh, almost double the 18 lakh recorded in the previous year.
MF Investors Growth Rate by City Type
| City Category | Number of Investors in 2024-25 | Annual Growth Rate | Number of investors in 2025-26 | Annual Growth Rate |
| Tier-1 | 113 | 18.2% | 134 | 18.1% |
| Tier-2 | 103 | 20.7% | 142 | 37.6% |
| Tier-3 | 326 | 23.2% | 339 | 3.8% |
| Total | 543 | 21.7% | 614 | 13.2% |
Disclaimer: The information provided in this article is for general informational and educational purposes only. Content does not constitute professional, legal, or financial advice.
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