Role of Mutual Funds in the growth of Indian Economy
Keywords:
Mutual fund, Economy, IndiaAbstract
The Indian mutual fund industry has come a long way since its inception in 1963. The industry witnessed sufficient growth on all parameters - the number of fund houses, the number of schemes, funds mobilized, assets under management, etc. Present study is descriptive in nature and based on secondary data. The main objective of the study is to identify the role of mutual funds in the growth of Indian economy. After the analysis researcher found out that the mutual fund industry has recorded significant impact on progress of Indian economy.
Moreover, the industry faces a number of challenges like low diffusion ratio, lack of product differentiation, lack of investor awareness and ability to communicate value to customers, lack of interest of retail investors towards mutual funds and evolving nature of the industry. Based on the analysis the study suggests some recommendation to address these challenges.
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