Financial technologies, also known as FinTech, seemed to have a significant and favourable impact on the services sector of the Indian financial sector. Technological advancement in mutual fund industry has brought about paradigm shift in mutual fund business. The objective of this study to assess the influence of recent advancements in financial technologies with regards to the financial services of India and its impact on mutual fund business. The review article covers the recent trends, effects that the financial technologies have had on the mutual fund business in India. The paper deliberates upon the technological advancement in mutual fund business from various aspects; distribution, marketing and promotion activities, AI and machine learning for investment strategies, innovative investment products and regulatory initiatives. In addition, potential dangers, difficulties, and possibilities that are linked with the developments of new technologies in the mutual funds business in India has also been discussed.