The correct answer is Rs. 24 lakh crore. As per AUM as on 30 November 2018, manages assets worth Rs. 24,03,134 crore. Average Assets Under Management (AAUM) of Indian Mutual Fund Industry for the month of October 2020 stood at ? 28,33,890 crore. The Industrys AUM had crossed the milestone of ?10 Trillion (?10 Lakh Crore) for the first time in May 2014. There are 44 asset management companies (AMCs) or mutual fund houses operating in India. A mutual fund collects money from investors and invests the money on their behalf in the financial market. SEBI is the regulatory body of mutual funds. TER or Total Expense Ratio is a percentage of a scheme's corpus that a mutual fund house charges towards expenses including administrative and management.