BANKING AFFAIRS

Detailed explanation-1: -Multi Cap Equity Funds or Diversified Equity Funds invests in stocks of companies across the stock market regardless of size and sector. These funds provide the benefit of diversification by investing in companies spread across sectors and market capitalisation.

Detailed explanation-2: -Equity funds are mutual funds that invest only in common stock.

Detailed explanation-3: -A mutual fund is a pool of money managed by a professional Fund Manager. It is a trust that collects money from a number of investors who share a common investment objective and invests the same in equities, bonds, money market instruments and/or other securities.

Detailed explanation-4: -Equity-Linked Savings Scheme, also known as ELSS, is a tax-saving mutual fund scheme that invests at least 80% of its corpus in equity and equity-related securities. These tax-saver mutual funds offer the dual benefits of tax-saving as well as potential capital appreciation.

Detailed explanation-5: -Balanced funds are mutual funds that invest money across asset classes, including a mix of low-to medium-risk stocks and bonds.