In which year Mutual Fund industry began in India ?

Question

Union government will re-introduce Technology Upgradation Fund Scheme ( TUFS ) to promote ..............?

1. Sericulture
2. Textile Industries
3. Large Scale Industries
4. Skill Development

Answer 1

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