Mutual Fund Advise

Dear Khilji,
It is really sad to note that you have done all you investments right at the peak of the market. I always maintained that SIP is the best method of investing because you can never time the market.
And the number of funds you have invested 23 is really very big and is unwieldy for the amount you have invested. And your exposure to one fund, Reliance Mutual Fund, is more than 20%.
The first thing you have got to do is to Stop SIP immediately in Birla Basic Industries Fund. You may continue your sip in other funds though I am not comfortable with Franklin Prima Plus.
Thankfully, your choice of funds is not that bad. So, you have managed to save something here. Still, to trim your portfolio and give it a more diversified and compact look I would like you to switch SBI Global Fund to SBI Comma Fund which should be an outperformer due to high Commodities Prices worldwide.
You should also switch from Reliance Regular Savings Fund - Equity option to Reliance Vision Fund.RRS fund has been an outperformer only recently and you are better off in Reliance Vision Fund.
Except HDFC Top 200 Fund, you dont have any Large Cap Fund as such, so you can switch from DSPML Equity Fund to DSPML Top 100 Fund and also from Sundaram Select Mid cap & Sundaram Capex to Sundaram Select Focus Fund.
About the money you are having right now, you can invest in Arbitrage Fund and give a STP to large cap funds like HDFC Top 200, DSPML Top 100 and also Reliance Vision Fund.
As a prudent Asset Allocation, you need to take exposure to Gold and what better fund than DSPML World Gold Fund?.
And finally, to your last question, please drop your idea of investing in Reliance Banking Fund and UTI Banking Fund,. simply because the Large Cap and Diversified Fund do take exposure into Banking Stocks if they sense an opportunity there.
Next time, do consider investing through sips.
Best of luck.