Should I continue to invest in Franklin India Equity Fund?

I am investing through SIP in Franklin India Equity Fund (Rs 5,000), SBI Bluechip Fund (Rs 5,000) and Aditya Birla Sun Life Tax Relief 96 (Rs 7,500). Is my funds selection okay? Do I need to make any changes? Is Franklin India Equity Fund good?
--Devendra Pandey

Prableen Bajpai, Founder & Managing Partner, Finfix Research & Analytics, responds:

Your portfolio is fairly balanced with a multi cap, large cap and tax saver fund. You should continue to invest in these schemes. You have specifically asked about Franklin India Equity Fund. It is a good fund driven by focus on quality stock selection and valuation consciousness. However, you must stay invested for a complete market cycle. Do not exit a scheme based on its short-term under-performance.