Mutual funds grow faster than bank FDs in 5 years

A report released by AMFI and CRISIL reveals that mutual funds have grown faster than bank FDs in 5 years.

The report says that the AUM of the Indian mutual fund industry has grown to Rs. 53.40 lakh crore in March 2024 from Rs. 23.80 lakh crore in March 2019, clocking a CAGR of 17.5%.

On the other hand, the AUM of bank deposits has grown to Rs. 212.53 lakh crore in March 2024 from Rs. 126.39 lakh crore in March 2019, a CAGR of 11.0%.

The report attributes this shift to low interest rates on fixed deposits. Here are the major trends that the mutual fund industry witnessed in the last five years

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