It is generally perceived that Mutual Funds are popular mainly with the middle and high-income groups and have not been found to be an attractive investment avenue for the low-income groups. Thus, if the sector has to grow fast, it needs to devise appropriate schemes to attract the saving of low-income groups, especially in rural areas.
This is the only way to ensure participation of all categories of investors in the financial markets, which is crucial for sustained development, both of the financial sector and the economy as a whole. V.  Concluding remarks  Mutual Funds clearly have a significant role to play in financial development.