Mutual funds are no substitute for bank returns: SEBI chief
Markets regulator SEBI's Chairman Ajay Tyagi has said that mutual funds are not a substitution for bank deposits as they don't assure returns. However, he added mutual funds are the "right way" for retail investors to participate in the capital markets. Notably, India currently has 43 mutual fund firms which manage assets worth over â¹22 lakh crore.