"India's mutual fund industry is today poised for its Jan Dhan moment," Ambani said here at an event of the Association of Mutual Funds in India (Amfi). He said India's mutual fund industry is a relatively young industry. Our own offering followed soon afterwards with the launch of Reliance Mutual Fund in 1995," he said. In the same timeframe, India's mutual fund industry, with 5.7 crore individual accounts, has expanded its AUM to reach Rs 20 lakh crore," Ambani said. "These steps will bring in a new class of investors to the mutual fund industry," he added.

Source: dna June 29, 2017 05:15 UTC