Which of the following Mutual Fund has been renamed as lsquo Nippon India Mutual Fund rsquo ........

Current GK (RBI Grade B) Financial System

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Which of the following Mutual Fund has been renamed as ‘Nippon India Mutual Fund’?

Religare Mutual Fund:

Bharti AXA Mutual Fund

Reliance Mutual Fund

HSBC Mutual Fund

ICICI Prudential Mutual Fund

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Explanation:

Reliance Mutual Fund has been renamed as “Nippon India Mutual Fund“. The organization was renamed following the purchase of 75% stake in Reliance Nippon Life Asset Management by Nippon Life Insurance. In Reliance Mutual Fund, both Reliance Capital and Nippon Life (Japan’s largest life insurance company) held 42.88% stake each, while the rest was with public shareholders