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Reliance Mutual Fund has been renamed Nippon India Mutual Fund following the purchase of a 75% stake in Reliance Nippon Life Asset Management by Nippon Life Insurance. Nippon is a company of which country?

1. Japan
2. Russia
3. USA
4. Germany

Correct answer: Japan

Solution

Nippon Life Insurance is a Japanese company. After acquiring a majority stake, the mutual fund was renamed to reflect the new ownership.

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