Question

In which year was the Indian Unit Test established?

• A. 1964
• B. 1969
• C. 1971
• D. 1973

Answer 1

Answer:

A. 1964

• The Indian Unit Trust ( now known as UTI Asset Management company ) was established in 1964.

• Specifically, the Unit Trust of India ( UTI ) was set up on November 1, 1964 , under the UTI Act , 1963.

• Objectives :

1. Mobilize savings from individual investors

2. Provide investment opportunities

3. Promote economic growth

• Key milestones :

1. 1964 : UTI established

2. 1987 : UTI Mutual Fund launched

3. 2003 : UTI Asset Management Company formed

4. 2010 : UTI Mutual Fund listed on stock

• UTI played a significant role in :

1. Popularizing mutual funds in India

2. Channeling savings into productive sectors

3. Contributing to India's economic development