Uttar Pradesh PCS 2011 Question number 72 (Paper 2)

Private sector mutual funds in india permitted in which year ?
Ans : 1993

The Indian mutual fund industry started with the setting up of the erstwhile Unit Trust of India in 1963. Public sector banks andThe Indian mutual fund industry started with the setting up of the erstwhile Unit Trust of India in 1963. Public sector banks and financial institutions were allowed to establish mutual funds in 1987. Since 1993, private sector and foreign institutions have been permitted to set up mutual funds. The industry is regulated by the Securities and Exchange Board of India (SEBI). financial institutions were allowed to establish mutual funds in 1987. Since 1993, private sector and foreign institutions have been permitted to set up mutual funds. The industry is regulated by the Securities and Exchange Board of India (SEBI).