Millennials constitute nearly half of not just India’s population but also the country’s mutual funds investing community. According to a report by Deloitte India and lobby group Retailers Association of India, millennials are now 47% of India’s workforce. Further, according to data from Computer Age Management Services (Cams), a transfer agency which services 68% of MFs in India, of the 3.6 million new MF investors it on-boarded in FY18-19, 47% (1.7 million) were millennials (between 20 and 35 years).
Nine big financial changes that you must watch out for in October
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