Ch.3 · Sponsor, Trustee and AMC Roles · medium
What was the first open-ended mutual fund in India and when was it launched?
0% of students got this wrong
EXPLANATION
The Unit Trust of India (UTI) launched India's first mutual fund scheme — Unit Scheme 1964 (US-64) — in 1964. UTI was the only mutual fund in India until 1987 when PSU banks and insurance companies were allowed to enter. Private sector mutual funds were permitted from 1993, and SEBI's regulatory framework was strengthened with the 1996 regulations.
Practising Chapter 3 one question at a time?
Try the full chapter — 80 questions, tracked score, weak area breakdown.