Mutual fund accounts surged sixfold since 2014, with retail investors driving growth and challenging traditional bank deposits.

• Unique MF investors crossed five crore in 2024, reflecting rising interest among India's aspirational middle-class population.
• MF industry’s AUM-to-deposit ratio doubled from 10% in 2014 to 23.8% in 2024, showing rapid adoption.
• Despite growth, India’s MF assets remain smaller relative to GDP than advanced economies, indicating vast potential.