Question

Who broke the monopoly of the Unit Trust of India (UTI) in the mutual fund business in 1987?

a.

Private sector companies

b.

Banks

c.

Securities and Exchange Board of India (SEBI)

d.

Government agencies

Answer: (b).Banks Explanation:In 1987, banks were allowed to enter the mutual fund business, breaking the monopoly of the Unit Trust of India (UTI).

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Q. Who broke the monopoly of the Unit Trust of India (UTI) in the mutual fund business in 1987?

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