{"id":4475,"date":"2025-03-29T05:01:03","date_gmt":"2025-03-28T23:31:03","guid":{"rendered":"https:\/\/www.torusdigital.com\/toruscope\/?p=4475"},"modified":"2026-01-06T13:05:35","modified_gmt":"2026-01-06T07:35:35","slug":"history-of-mutual-funds","status":"publish","type":"post","link":"https:\/\/www.torusdigital.com\/toruscope\/mutual-funds\/history-of-mutual-funds\/","title":{"rendered":"History of Mutual Funds in India: A Complete Overview"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_section el_id=&#8221;blog-inner-layout&#8221;][vc_row overlay_dotted=&#8221;&#8221;][vc_column el_class=&#8221;blog_primary&#8221;][vc_row_inner][vc_column_inner][vc_column_text css=&#8221;&#8221;]<span style=\"font-weight: 400;\">If you want to invest in the stock market but do not know or do not have time for specific stock selection, you can start your investment with mutual funds. Do you know how and <\/span><b>when mutual funds started in India<\/b><span style=\"font-weight: 400;\">?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A robust financial market with widespread participation is crucial for a developed economy. In line with this broader goal, India established its first mutual fund, the Unit Trust of India (UTI), in 1963.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This initiative was spearheaded by the Government of India and the Reserve Bank of India, aiming to promote savings, investments, and participation in the income, profits, and gains generated by the Corporation through the acquisition, management, and sale of securities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past few years, the mutual fund industry in India has experienced significant growth. Well, read this blog to learn the <\/span><b>history of mutual funds in India.<\/b><\/p>\n<p><b>Quick Timeline: History of Mutual Funds in India<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">1963: Establishment of Unit Trust of India (UTI), India\u2019s first mutual fund, via an Act of Parliament<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">1964: UTI launches its first scheme, Unit Scheme 1964 (US 64)<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">1987: Entry of public sector mutual funds from banks, LIC and GIC, starting with SBI Mutual Fund<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">1993 to 1996: Launch of private sector mutual funds and introduction of SEBI Mutual Fund Regulations<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2000s onwards: Rapid growth, wider scheme variety, investor awareness campaigns and digital distribution platforms<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"A_Phase-Wise_Overview_of_the_Mutual_Fund_Industry_in_India\"><\/span><b>A Phase-Wise Overview of the Mutual Fund Industry in India<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can categorise the <\/span><b>origin of mutual funds<\/b><span style=\"font-weight: 400;\"> into five key phases, as below:<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"First_Phase_%E2%80%93_1964-1987\"><\/span><b>First Phase &#8211; 1964-1987<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">So <\/span><b>when was mutual fund started in India<\/b><span style=\"font-weight: 400;\">? The industry of <\/span><b>mutual fund established<\/b><span style=\"font-weight: 400;\"> began in 1963 with the establishment of UTI, formed through an Act of Parliament and operating under the regulatory and administrative control of the Reserve Bank of India (RBI).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 1978, UTI was separated from the RBI, and the Industrial Development Bank of India (IDBI) took over its regulatory and administrative responsibilities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The first scheme launched by UTI was the Unit Scheme 1964 (US &#8217;64). By the end of 1988, UTI&#8217;s Assets Under Management (AUM) had reached \u20b96,700 crores.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Second_Phase_%E2%80%93_1987-1993_%E2%80%93_Inception_of_Public_Sector_Mutual_Funds\"><\/span><b>Second Phase &#8211; 1987-1993 &#8211; Inception of Public Sector Mutual Funds<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In 1987, public sector mutual funds were introduced by public sector banks, the Life Insurance Corporation of India (LIC), and the General Insurance Corporation of India (GIC).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong><a href=\"https:\/\/www.torusdigital.com\/mutual-funds\/amc\/sbi-mutual-fund\">SBI Mutual Fund<\/a><\/strong>, established in June 1987, was the first mutual fund outside of UTI, followed by Canbank Mutual Fund in December 1987, Punjab National Bank Mutual Fund in August 1989, Indian Bank Mutual Fund in November 1989, Bank of India in June 1990, and Bank of Baroda Mutual Fund in October 1992.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">LIC launched its mutual fund in June 1989, while GIC followed with its own in December 1990. By the end of 1993, the mutual fund industry had amassed \u20b947,004 crores in assets under management.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Third_Phase_%E2%80%93_1993-2003_%E2%80%93_Entry_of_Private_Sector_Mutual_Funds\"><\/span><b>Third Phase &#8211; 1993-2003 &#8211; Entry of Private Sector Mutual Funds<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In April 1992, SEBI was established to regulate and protect investor interests in India&#8217;s securities market. In 1993, SEBI introduced its first set of Mutual Fund Regulations, and the first private sector mutual fund, Kothari Pioneer (now Franklin Templeton), was registered.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This marked the beginning of a new era for the Indian mutual fund industry, offering more options to investors. The SEBI (Mutual Fund) Regulations were updated in 1996. By January 2003, the industry had 33 mutual funds, with a total AUM of \u20b91,21,805 crores, and UTI held \u20b944,541 crores of that amount.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Fourth_Phase_%E2%80%93_Since_February_2003_%E2%80%93_April_2014\"><\/span><b>Fourth Phase &#8211; Since February 2003 \u2013 April 2014<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In February 2003, UTI was split into two entities: SUUTI and <strong><a href=\"https:\/\/www.torusdigital.com\/mutual-funds\/amc\/uti-mutual-fund\">UTI Mutual Fund<\/a><\/strong>, following the repeal of the Unit Trust of India Act 1963. This led to a phase of consolidation in the mutual fund industry, marked by mergers among private-sector funds.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After the 2009 global financial crisis, the Indian mutual fund industry faced a downturn, with many investors losing faith in <\/span><a href=\"https:\/\/www.torusdigital.com\/mutual-funds\"><span style=\"font-weight: 400;\">mutual funds<\/span><\/a><span style=\"font-weight: 400;\">. The abolition of entry loads and the crisis&#8217;s aftermath slowed recovery, resulting in sluggish growth in AUM between 2010 and 2013.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Fifth_Current_Phase_%E2%80%93_Since_May_2014\"><\/span><b>Fifth (Current) Phase \u2013 Since May 2014<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In September 2012, SEBI introduced measures to boost the mutual fund industry and expand its reach, especially in Tier II and Tier III cities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since May 2014, the industry has seen steady growth, with AUM crossing \u20b910 trillion in May 2014, \u20b920 trillion in August 2017, and \u20b930 trillion in November 2020.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By February 2025, AUM had increased to \u20b964.53 trillion, a five-fold growth in 10 years. The number of investor folios also grew from 8.88 crore in 2020 to 23.23 crore by 2025.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This growth was driven by SEBI&#8217;s measures and the vital role of mutual fund distributors in expanding the retail base, especially in smaller towns.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Drivers_of_Growth_in_the_Mutual_Fund_Industry\"><\/span><b>Key Drivers of Growth in the Mutual Fund Industry<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Over the decades, several structural and behavioural factors have driven the growth of mutual funds in India:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Economic liberalisation in the early 1990s, which opened up capital markets and encouraged financial sector development<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Entry of private sector AMCs and foreign partners, bringing in global practices and more product variety<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rise of retail participation through Systematic Investment Plans (SIPs), making investing accessible with small ticket sizes<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Digital distribution and online investment platforms, including app-based investing and wealth apps from financial institutions<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Large-scale investor awareness campaigns such as &#8220;Mutual Funds Sahi Hai&#8221;, which helped demystify mutual funds for first-time investors<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Challenges_and_Turning_Points_in_the_Mutual_Fund_Journey\"><\/span><b>Challenges and Turning Points in the Mutual Fund Journey<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The history of mutual funds in India also includes important turning points and challenges that shaped the industry:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The UTI crisis in the early 2000s, which led to a loss of investor confidence and triggered stronger regulation and oversight<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Global financial crises and market corrections that tested investor discipline and highlighted the need for proper risk management<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Initial low investor awareness and limited product variety, which restricted penetration beyond major cities<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Regulatory changes like the removal of entry load, categorisation of schemes and tighter disclosure norms, which improved transparency but also forced business model adjustments<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The need for ongoing investor education campaigns to reinforce long-term investing and realistic return expectations<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Facts_About_the_Growth_of_the_Mutual_Fund_Industry\"><\/span><b>Facts About the Growth of the Mutual Fund Industry<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Follow this table to understand the total AUM of Mutual Fund companies across the <\/span><b>history of mutual funds in India<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Year<\/b><\/td>\n<td><b>AUM\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2014<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b910 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2015<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b912.02 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2016<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b917.89 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2017<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b920 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2018<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b924 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2019<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b924.25 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2020<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b930 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2021<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b937.7 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2022<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b940 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2023<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b950.78 lakh crore<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2024<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b968 lakh crore<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"The_Future_of_Mutual_Funds_in_India\"><\/span><b>The Future of Mutual Funds in India<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">India&#8217;s mutual fund industry is ready for continuous growth and according to a report India&#8217;s mutual fund AUM (Assets Under Management) may reach \u20b9100 lakh crore by 2030.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past five years, the industry has witnessed significant growth, even amidst global challenges, indicating that this positive trend is likely to persist.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As more investors continue to choose mutual funds, either through <strong><a href=\"https:\/\/www.torusdigital.com\/toruscope\/investing\/sip-vs-lump-sum-investment\/\">SIPs or lump sum investments<\/a><\/strong>, it reflects the industry&#8217;s stability and the long-term confidence investors have in mutual funds, despite the inherent risks.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Tools_for_Mutual_Fund_Investors\"><\/span><b>Key Tools for Mutual Fund Investors<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">After knowing the <\/span><b>history of mutual funds in India<\/b><span style=\"font-weight: 400;\">, if you are considering a mutual fund investment, you can use funds using these tools:<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Credit_Rating\"><\/span><b>Credit Rating<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Debt papers in a fund are rated by specialised agencies based on their risk level, using their detailed methodology.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These ratings range from AAA (highest safety) to D (default) and are typically available in the fund&#8217;s fact sheet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A higher rating signifies lower credit risk, and since investors typically choose debt investments to minimise risk, they should avoid funds with too many low-rated papers. This rating system applies solely to debt schemes.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Sharpe_Ratio\"><\/span><b>Sharpe Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The Sharpe ratio tracks changes in a portfolio&#8217;s risk-return profile when a new asset or asset class is added to a mutual fund portfolio. It is calculated using the formula: (Expected Return &#8211; Risk-free Return) \/ Standard Deviation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This ratio helps determine if a portfolio&#8217;s excess returns are due to smart investment choices or excessive risk-taking. While portfolios may yield different returns, a good investor understands that higher returns should not come with excessive risk.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A higher Sharpe ratio indicates better risk-adjusted performance, while a negative Sharpe ratio suggests that a risk-free asset would outperform the analysed security.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Expense_Ratio\"><\/span><b>Expense Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The expense ratio represents the cost an investment company incurs to manage a mutual fund portfolio. It is calculated yearly using the formula: Total expenses charged by the fund\/average assets under management. A lower expense ratio is more favourable for investors.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Portfolio_Concentration_Ratio\"><\/span><b>Portfolio Concentration Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This ratio provides a detailed breakdown of the mutual fund&#8217;s investments across various markets, typically representing a percentage of the fund&#8217;s top five stocks or sectors.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Exit_Load\"><\/span><b>Exit Load<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A mutual fund charges a penalty for early withdrawal, known as the exit load. This fee typically ranges from 0% (for liquid funds) to 1% (for equity schemes held for less than a year).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is wise to invest in schemes with lower exit loads. You have to bear the exit load depending on when you redeem your units.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts\"><\/span><b>Final Thoughts\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">With mutual funds, you can reduce the tension of choosing stocks one by one to place your money. Unlike in the <\/span><b>history of mutual funds in India<\/b><span style=\"font-weight: 400;\">, buying shares and mutual funds is very easy with online stockbrokers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At Torus Digital, we offer direct mutual funds that save you money by avoiding unnecessary charges for the commission of regular funds. To start your journey with us, you can <\/span><a href=\"https:\/\/www.torusdigital.com\/open-demat-account\"><span style=\"font-weight: 400;\">open a lifetime free Demat account<\/span><\/a><span style=\"font-weight: 400;\"> with us with zero account opening fees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind, &#8220;Start small, think big.&#8221; By adopting disciplined investment strategies today, you can unlock the full potential of these financial tools to build a prosperous future. Open your account now!<\/span><\/p>\n<p><b>Key Takeaways<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The mutual fund industry in India started in 1963 to 1964 with UTI and its first scheme, US 64<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Public sector mutual funds from banks, LIC and GIC widened the industry in the late 1980s<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Private sector AMCs entered after liberalisation in the early 1990s, expanding choice and competition<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Regulatory strengthening by SEBI, along with digital platforms and SIP culture, fueled large-scale growth from the 2000s onwards<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Understanding the history of mutual funds in India helps investors appreciate today\u2019s improved access, regulations and product diversity<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_id=&#8221;share_rating&#8221;][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h6>Rate this article<\/h6>\n<!-- FeedbackWP Plugin --><div  class=\"rmp-widgets-container rmp-wp-plugin rmp-main-container js-rmp-widgets-container js-rmp-widgets-container--4475 \"  data-post-id=\"4475\">    <!-- Rating widget -->  <div class=\"rmp-rating-widget js-rmp-rating-widget\">            <div class=\"rmp-rating-widget__icons\">      <ul class=\"rmp-rating-widget__icons-list js-rmp-rating-icons-list\">                  <li class=\"rmp-rating-widget__icons-list__icon 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Facebook\" target=\"_blank\"><i class=\"fa fa-facebook\"><\/i><\/a>\n        <a href=\"\/\/twitter.com\/intent\/tweet?text=History+of+Mutual+Funds+in+India%3A+A+Complete+Overview&url=https%3A%2F%2Fwww.torusdigital.com%2Ftoruscope%2Fmutual-funds%2Fhistory-of-mutual-funds%2F\" class=\"twitter\" data-toggle=\"tooltip\" data-placement=\"top\" title=\"Share On Twitter\" target=\"_blank\"><i class=\"fa-brands fa-x-twitter\"><\/i><\/a>\n        <a href=\"https:\/\/api.whatsapp.com\/send?text=History+of+Mutual+Funds+in+India%3A+A+Complete+Overview - https%3A%2F%2Fwww.torusdigital.com%2Ftoruscope%2Fmutual-funds%2Fhistory-of-mutual-funds%2F\" class=\"whatsapp\" data-toggle=\"tooltip\" data-placement=\"top\" title=\"Share On WhatsApp\" target=\"_blank\"><i class=\"fa fa-whatsapp\"><\/i><\/a>\n        <a href=\"\/\/www.linkedin.com\/shareArticle?mini=true&url=https%3A%2F%2Fwww.torusdigital.com%2Ftoruscope%2Fmutual-funds%2Fhistory-of-mutual-funds%2F&title=History+of+Mutual+Funds+in+India%3A+A+Complete+Overview\" class=\"linkedin\" data-toggle=\"tooltip\" data-placement=\"top\" title=\"Share On Linkedin\" target=\"_blank\"><i class=\"fa fa-linkedin\"><\/i><\/a>\n    <\/div>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner]<\/p>\n<p>[vc_row_inner el_id=&#8221;faq_blog&#8221;]<br \/>\n[vc_column_inner]<br \/>\n[vc_custom_heading text=&#8221;Frequently Asked Questions&#8221; font_container=&#8221;tag:h2|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221;]<br \/>\n[\/vc_column_inner]<br \/>\n[\/vc_row_inner]<\/p>\n<p>[vc_tta_accordion active_section=&#8221;1&#8243; el_id=&#8221;faq&#8221;]<\/p>\n<p>[vc_tta_section title=&#8221;What was the first mutual fund in India?&#8221; tab_id=&#8221;faq-first-mf-india&#8221;]<br \/>\n[vc_column_text]<br \/>\nIndia\u2019s first mutual fund was the Unit Trust of India, established in 1963 by the Government of India and the Reserve Bank of India. Its first scheme, Unit Scheme 1964, aimed to promote savings and investment among retail investors.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;How has SEBI impacted mutual funds?&#8221; tab_id=&#8221;faq-sebi-impact-mf&#8221;]<br \/>\n[vc_column_text]<br \/>\nSEBI has significantly shaped the mutual fund industry by improving transparency, introducing scheme categorisation, enabling direct plans, strengthening disclosure norms, and implementing investor protection measures.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;What are the benefits of investing in mutual funds?&#8221; tab_id=&#8221;faq-benefits-mf&#8221;]<br \/>\n[vc_column_text]<br \/>\nMutual funds offer diversification, professional fund management, and liquidity. They provide access to multiple asset classes, potential for higher returns than traditional savings, and risk reduction through pooled investments.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;How can I begin investing in mutual funds?&#8221; tab_id=&#8221;faq-start-mf-investing&#8221;]<br \/>\n[vc_column_text]<br \/>\nYou can start by identifying funds aligned with your financial goals, opening an account through a broker or fund house, and investing via SIPs or lump sum mode. Reviewing fund performance and costs regularly is also important.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;When did mutual funds start in India?&#8221; tab_id=&#8221;faq-mf-start-india&#8221;]<br \/>\n[vc_column_text]<br \/>\nMutual funds in India began in 1963 with the formation of the Unit Trust of India and the launch of Unit Scheme 1964, marking the formal start of the industry.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;Why was UTI important in the history of mutual funds?&#8221; tab_id=&#8221;faq-uti-importance&#8221;]<br \/>\n[vc_column_text]<br \/>\nUTI introduced the concept of pooled investments to Indian households, created early investor awareness, and laid the foundation for the growth of both public and private sector mutual funds.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;When did private sector AMCs begin operating in India?&#8221; tab_id=&#8221;faq-private-amc-start&#8221;]<br \/>\n[vc_column_text]<br \/>\nPrivate sector asset management companies began operations in the early 1990s following economic liberalisation. The first private mutual fund was launched in 1993, with more AMCs entering after SEBI regulations were introduced.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;How has investor access to mutual funds changed over time?&#8221; tab_id=&#8221;faq-mf-access-evolution&#8221;]<br \/>\n[vc_column_text]<br \/>\nEarlier, mutual funds were accessed mainly through physical branches and paperwork. Today, investors can invest online, start SIPs digitally, compare schemes, and track portfolios in real time through apps and platforms.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[vc_tta_section title=&#8221;What regulatory changes have shaped the mutual fund industry?&#8221; tab_id=&#8221;faq-mf-regulatory-changes&#8221;]<br \/>\n[vc_column_text]<br \/>\nKey changes include SEBI becoming the regulator, SEBI Mutual Fund Regulations 1996, scheme categorisation, direct plans, enhanced disclosures, and standardised risk labelling to improve transparency and investor protection.<br \/>\n[\/vc_column_text]<br \/>\n[\/vc_tta_section]<\/p>\n<p>[\/vc_tta_accordion]<\/p>\n<p>[\/vc_column][\/vc_row][\/vc_section]<\/p>\n<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"BlogPosting\",\n  \"mainEntityOfPage\": {\n    \"@type\": \"WebPage\",\n    \"@id\": \"https:\/\/www.torusdigital.com\/toruscope\/mutual-funds\/history-of-mutual-funds\/\"\n  },\n  \"headline\": \"History of Mutual Funds in India: A Complete Overview\",\n  \"description\": \"Discover the origin of mutual funds and their journey in India. 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Do you know how and when mutual funds started in India?\u00a0 A robust financial market with widespread participation is crucial for","protected":false},"author":1,"featured_media":4885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-4475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Understanding The Origin &amp; History of Mutual Funds in India<\/title>\n<meta name=\"description\" content=\"Discover the origin of mutual funds and their journey in India. 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