Funds focused on banks were the top performers in India in 2012, according to data from fund tracker Lipper, a Thomson Reuters company, after the banking sub-index surged nearly 57 per cent last year.

Indian shares ended 2012 with their best gain in three years as strong foreign inflows and the government's fiscal and economic reforms outweighed worries about the domestic economy.

ICICI Prudential Banking & Finance Services Fund was the best performing fund in 2012, registering gains of 72.2 per cent, followed by Reliance Banking Fund which clocked a rise of 60.5 per cent.

The following table shows Indian mutual fund returns for the month of December and their cumulative performance.