MoneyMarketMutualFundsMMMFswereintroducedinIndiainApril1991toprovideanadditionalshortterminvestmentavenuetoinvestorsandtobringmoneymarketinstrumentswithinthereachofindividualsTheguidelinesforMMMFswereannouncedbytheReserveBankinApril1992TheReserveBankhadmadeseveralmodificationsintheschemetomakeitmoreflexibleandattractivetobanksandfinancialinstitutionsTheseguidelinesweresubsequentlyincorporatedintotherevisedSEBIregulations