In which year Mutual fund industry began in India?
In which year Mutual fund industry began in India?
[A]1957
[B]1963
[C]1975
[D]1980
1963
The mutual fund industry in India began in 1963 with the formation of the Unit Trust of India (UTI) as an initiative of the Government of India and the Reserve Bank of India. Much later, in 1987, SBI Mutual Fund became the first non-UTI mutual fund in India.