ETF vs Mutual Funds

i want to understand ETF vs Mutual Funds.
when should i invest in ETF and when should i invest in mutual funds.
like liquidbess or liquidcase vs liquid mutual funds

Have you gone through ?

ETF - passively managed, Charges are lesser, Traded on exchange (Conversion to cash is faster)
MF - Actively managed, Charges higher, Depending on the MF manager can give better ROI.

So, you are betting either on NSE which chooses the stocks for Index vs MF manager.