Passive funds are essentially designed to track the performance of an index by replicating the portfolio of the underlying index.
Sectoral/thematic funds saw the highest net inflows within the category at Rs 2,009 crore in March sided by new launches.
Axis Mutual Fund on Wednesday launched an exchange-traded fund focused on technology stocks.
The new fund, Axis Technology ETF, opens on Thursday and closes on March 23. It will track the Nifty IT index, and offers investors an opportunity to invest in the biggest IT companies, the fund house said.