Thanks for your inputs.

I have one more doubt in this am planning for these 4 funds
HDFC Top 200
SBI emerging
IDFC Premier Equity
UTI SPrEAD

But how to start all these, am having account in Citibank and SBI.

My 4 funds are with different firms, do I need to start account in all these banks?
Can I transfer money from my account to SIP?