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.

Advertisement

This question "In which year Mutual fund industry began in India?" was published on GKToday on July 19, 2015 at 4:40 pm. For Current Affairs Questions Archive Click Here. For General Knowledge Questions Archive Click Here.

Comments