BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1992
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1993
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1994
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1982
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Detailed explanation-1: -Also, 1993 was the year in which the first Mutual Fund Regulations came into being, under which all mutual funds, except UTI were to be registered and governed. The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund registered in July 1993.
Detailed explanation-2: -1992). LIC established its mutual fund in June 1989, while GIC had set up its mutual fund in December 1990. At the end of 1993, the MF industry had assets under management of ₹47, 004 crores.
Detailed explanation-3: -Money Market Mutual Funds (MMMFs) were introduced in India in April 1991 to provide an additional short-term avenue to investors and to bring money market instruments within the reach of individuals.
Detailed explanation-4: -Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 [Last amended on August 3, 2022]
Detailed explanation-5: -UTI Master Gain 1992 became an open-end fund and its name changed to UTI Equity Fund since July 1, 2005. The NAV as on October 27, 2008 is Rs 24.09. You can redeem this on any working day by filling the redemption application form and submitting it to the AMC office.