Over the past year, the mutual fund AUM in these four states has increased more than the industry average. With an AUM of ₹3.19 lakh crore, Uttar Pradesh has actually surpassed Tamil Nadu, which had ₹3.09 lakh crore, to claim sixth place overall.
According to MFs assets, Bihar, MP, Rajasthan, and UP are all doing well. In the past year, the mutual fund AUM in the four states of Bihar, Madhya Pradesh, Rajasthan, and Uttar Pradesh has increased more than the industry average, with Uttar Pradesh surpassing Tamil Nadu to take sixth place overall.
If the robust increase in the assets under management of the mutual fund business from these states is any indication, BIMARU states can no longer be regarded as bimar (ill). Demographer Ashish Bose first used the word “BIMARU” in the 1980s to characterize the dire economic circumstances in Bihar, Madhya Pradesh, Rajasthan, and Uttar Pradesh.
