New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    In which year Money Market Mutual Funds (MMMFs) were

    introduced in India?
    A 1981 Correct Answer Incorrect Answer
    B 1991 Correct Answer Incorrect Answer
    C 1999 Correct Answer Incorrect Answer
    D 2004 Correct Answer Incorrect Answer
    E 2011 Correct Answer Incorrect Answer

    Solution

    Money Market Mutual Funds (MMMFs) were introduced in India in April 1991 to provide an additional short term investment avenue to investors and to bring money market instruments within the reach of individuals. The guidelines for MMMFs were announced by the Reserve Bank in April 1992. The Reserve Bank had made several modifications in the scheme to make it more flexible and attractive to banks and financial institutions. These guidelines were subsequently incorporated into the revised SEBI regulations.

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