MF penetration: Maharashtra, Delhi in lead; Jharkhand in top 10

Industry insiders say MFs have gained better traction in Jharkhand due to presence of a large salaried class and strong distributor network

Maharashtra, New Delhi and Goa have the highest mutual fund penetration in India, thanks to the higher income levels, better literacy rates and strong inflows from corporates and high net worth individuals. However, it is not that all higher income and developed states have high MF penetration and all 'poorer' states lag behind.

For example, mutual fund penetration is only 5- 6 per cent in Kerala and Telangana, while Jharkhand is among the top 10 states, with a depth of 13 per cent, according to data from Association of Mutual Funds in India (Amfi).

Amfi calculates MF penetration as the