What is the History of mutual funds in India and what role does Securities and Exchange Board of India (SEBI) play in regulating mutual funds?
Here’s a quick timeline of the History of mutual funds in India :
1963 – Unit Trust of India, India’s first mutual fund was set up
Early 1990s – Government allowed public sector banks and institutions to set up mutual funds
1992 –SEBI Act was passed, to protect investors’ interests and regulate as well as promote the securities market
1993 – SEBI notified regulations for mutual funds
1996 – SEBI regulations were fully revised Mutual funds are established by sponsor who fit the eligibility criteria as SEBI ( Mutual Funds) Regulation
As of now, mutual funds sponsored by public, private or even foreign entities are governed by the same set of SEBI regulations, and are subject to inspection and monitoring in order to ensure that investors’ interests are not compromised upon.
Here’s a quick timeline of the History of mutual funds in India :
1963 – Unit Trust of India, India’s first mutual fund was set up
Early 1990s – Government allowed public sector banks and institutions to set up mutual funds
1992 –SEBI Act was passed, to protect investors’ interests and regulate as well as promote the securities market
1993 – SEBI notified regulations for mutual funds
1996 – SEBI regulations were fully revised Mutual funds are established by sponsor who fit the eligibility criteria as SEBI ( Mutual Funds) Regulation
As of now, mutual funds sponsored by public, private or even foreign entities are governed by the same set of SEBI regulations, and are subject to inspection and monitoring in order to ensure that investors’ interests are not compromised upon.
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