According to a major credit rating agency, the Indian Mutual Fund (MF) industry started the new financial year on a positive note and it is expected to touch Rs. 20 lakh-crore milestone if industry assets grow by another 4%. According to data from AMFI, the Asset Under Management of the Indian MF industry grew 9.8% from Rs. 17.54 lakh crore in Mar 2017 to Rs. 19.26 lakh crore in Apr 2017. It has also mentioned that assets from B15 towns have grown 43.9% due to investor-friendly initiatives by regulators and awareness campaigns by asset management companies (AMC). In Apr 2017, the B15 assets grew by Rs. 98,525 crore and stood at Rs. 3.23 lakh crore compared with Rs. 2.24 lakh crore in Apr 2016.