Discussion
What is the full form of "UTI"?
Answer: A
Correct answer: Unit Trust of India
The Unit Trust of India was established in 1963 under its own Act and began operations with the Unit Scheme 1964.
It was India's first mutual fund, created to give the small saver access to a diversified portfolio and professional management, and it held a statutory monopoly for nearly three decades - the industry opened to public sector banks in 1987 and to private sponsors in 1993. It was restructured in 2003 after the US-64 scheme's difficulties, splitting into UTI Mutual Fund and a specified undertaking.
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