Which one of the following is the largest mutual fund organisation in India?
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UPSC Civil Services preparation
- ASBI Mutual Fund
- BGIC Mutual Fund
- CIndustrial Bank Mutual Fund
- DUnit Trust of IndiaCorrect
Explanation
The correct answer is D, Unit Trust of India.
The Unit Trust of India was established in 1963 by an Act of Parliament and was the first mutual fund set up in India. For several decades, it held a monopoly in the Indian mutual fund industry. Even after the sector was opened to public and private players, it remained the largest organization in terms of historical significance and Assets Under Management for a long period. In the context of traditional UPSC questions and the historical evolution of the Indian financial market, UTI is identified as the pioneering and largest mutual fund entity. While current market rankings may fluctuate among firms like SBI Mutual Fund, UTI remains the standard answer regarding the foundational and largest historical organization in this sector.
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