Here are two sets of bare facts. One, private mutual funds were permitted to be set up in 1993 and, in the past 21 years, until the end of 2014, their equity investment had gradually touched Rs200,000 crore spread across pure equity schemes, balanced schemes and equity-linked savings schemes. At the current rate of growth, by March 2024, equity assets held by mutual funds are expected to touch an astounding Rs24 lakh crore. This implies a stunning 12 times growth in the past decade, a compound annual growth rate of 28.2%. This is the story of institutionalisation or aggregation of Indian savings directed at equity markets. Listen to this week's episode as Debashis Basu looks at the gradual change in the stock market.
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