The mutual fund industry in India started in 1963 with the formation of Unit Trust of India, at the initiative of the Government of India and Reserve Bank of India. Significant growth in size of mutual fund industry was seen in late 1980’s when public sector mutual funds were given permission. The entry of private sector players in mid 1990s and formulation of comprehensive SEBI MF Regulations 1996 led to sharp growth in the assets of the mutual fund industry. In the last ten years, entry of banks and institutional players as intermediaries coupled with greater investor awareness and penetration has led to significant growth in assets of Indian Mutual Fund industry.
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