Consider the following statements regarding Association of Mutual Funds in India’s new initiatives: 1. "Chhoti SIP" aims to encourage smaller, more frequent investments in mutual funds, primarily targeting younger investors. 2. "Tarun Yojana" is a dedicated program designed to train and empower mutual fund distributors, particularly in rural areas. 3. "MITRA" is a platform that simplifies the process of claiming investments left unclaimed in mutual funds. Mark the correct statement from the above using the codes given below:
All 1, 2 and 3
Why in the News?
"AMFI Launches Trio of Schemes to Boost Mutual Fund Reach”
Statement 1: correct
Chhoti SIP: This initiative promotes micro-investments in mutual funds, encouraging younger and first-time investors to start small and build a long-term investment habit through smaller, more frequent contributions.
Statement 2: correct
Tarun Yojana: This program focuses on training and developing mutual fund distributors, especially in rural areas, to improve financial literacy and expand the reach of mutual fund investments to underserved populations.
Statement 3: correct
MITRA: This platform simplifies the process of retrieving unclaimed mutual fund investments, making it easier for investors or their beneficiaries to access and claim these funds, thereby boosting investor confidence.
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Important Questions from Banking Affairs
As per the provisions of Union Budget 2021-22, how many public sector banks have been lined up for disinvestment?
What is the repo rate given by the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) as on 7 April 2021?
On 25 September 2020,_________ announced that they will launch a contactless debit card-based payment facility through phones called 'Safe Pay', allowing transactions up to ₹20,000 per day.
In November 2020, India and _________ jointly launched Phase 2 of the Rupay card.
In November 2020, the Union Cabinet of India approved the merger of capital-starved Lakshmi Vilas Bank (LVB) with _______________.
