MUTUAL FUNDS – FINANCIAL SERVICES, CHALLENGES & SOLUTIONS IN INDIAN SCENARIO

Received: 18.04.2021; Revised: 20.06.2021, Accepted: 28.06.2021, Published Online: 09.07.2021

CA (Dr.) Manish N. Shah

Asst. Prof – G H Raisoni College of Commerce, Science & Technology, Nagpur

ABSTRACT

From socialism dominated mixed economy, license raj, controls over the country’s finances and natural resources to a more liberalized and open economy, the migration for India has not been easy. Post liberalization the pace of progress of the Indian economy has been satisfactory and time is not far when we will be included among the developed nations of the world.  Technological advancements and innovations are the keywords of progress since then. Financial Services are the backbone of a country’s economic progress. To channelize the domestic savings and to increase the pace of financial inclusion and to channelize the domestic savings into a more purposeful use, the financial services sector went into a reform mode from 2001 onwards. Although mutual funds existed for more than 3 decades before these reforms but their contributions were far from satisfactory. The author intends to revisit financial inclusion and briefly analyze the journey of mutual funds in this endeavor. Study “ease of Investment” initiatives in mutual funds. An insight would broaden the comprehension of the outcome of these reforms in the viewpoint of financial inclusion in the Indian context and the author intends to draw inferences to explain the challenges of the Mutual Funds industry.

Keywords: Financial inclusion, Mutual Funds, Financial literacy, Challenges.