India is one of the fastest growing economies in the world. Today in spite of the economic slowdown, the Indian Financial System is considered sound and stable. India has been ranked as one of the fastest growing economy in the world. The Indian MF Industry has assumed great significance over the past decade and is an important segment of the financial markets in India. Since the emergence of MF in India in 1963, the industry has seen many changes. After the Economic Liberation in 1991 the MF industry saw the entry of commercial banks and private players (both domestic and foreign). This led to rapid growth and competition in the industry with every Asset Management Company (AMC) coming up with new schemes. The retail segment investor in India who comprises nearly 98 percent of the investor account, constitute only 39 percent of the total net assets and the corporate and institutions constitute nearly 55 percent. This retail segment is significant as only 8 percent of the household financial saving population invests in mutual funds in India. This text shall highlight the details of mutual funds to every investor.