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Trends in Resource Mobilization

In: The Indian Mutual Fund Industry

Author

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  • G. V. Satya Sekhar

    (GITAM University)

Abstract

The mutual fund industry in India started in 1963 with the formation of Unit Trust of India (UTI), at the initiative of the Government of India and the Reserve Bank. The history of mutual funds in India can be broadly divided into four phases1. In the first phase (1964–1987) UTI enjoyed monopoly status in the mutual fund industry. In the second phase (1987–1993) some public sector mutual funds set up by the public sector banks and LIC and GIC were launched. In the third phase (1993–2003) the government allowed private players to offer mutual fund schemes, giving Indian investors a wider choice of fund families. In the fourth phase, following the repeal of the Unit Trust of India Act 1963 in February 2003, UTI was bifurcated into two separate entities.

Suggested Citation

  • G. V. Satya Sekhar, 2014. "Trends in Resource Mobilization," Palgrave Macmillan Books, in: The Indian Mutual Fund Industry, chapter 3, pages 61-105, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40799-3_3
    DOI: 10.1057/9781137407993_3
    as

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