Thursday, September 20, 2018
Kashmir Times Logo
UTI should inform investors about latest position of their holdings
ActIT Jammu, Projects, Java,, C# Training Jammu
Dear Editor,

Unit Trust of India (UTI) was formed through a central legislation in the year 1963 for giving small investors a trustworthy government-institution for investments. But The UTI Act 1963 was repealed in the year 2003 paving way for the bifurcation of UTI into Specified Undertaking of Unit Trust of India (SUUTI) and UTI Mutual Fund (UTIMF) with UTIMF promoted by four large Public Sector Financial Institutions as sponsors, viz., State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank with each of them holding a 18.24% stake in the paid up capital of UTI AMC. UTI Mutual Fund is the oldest and one of the largest mutual funds in India with over 10 million investor accounts under its 230 domestic schemes or plans as on September 30, 2017.

But UTI had other schemes also before its bifurcation. Small investors are totally unaware of their investments made in schemes launched by a government-trust UTI. It is duty of central government to make investors in UTI know about their investments. In case UTI does not exist now, Union Ministry of Corporate Affairs should own responsibility to write to every individual investor in erstwhile UTI about fate of their investment. Procedure may be formulated for one-time-settlement for all those investors in UTI who do not wish to continue in dark about their investment in UTI.

—Madhu Agrawal,

1775 Kucha Lattushah

Dariba, Chandni Chowk Delhi.

News Updated at : Tuesday, May 15, 2018
Comment on this Story 

Top Stories of the Day  
Train services restored in Kashmir after 4 days
SRINAGAR, May 14: Train services were restored in Kashmir valley on Monday after remaining suspended for past four days. The railway officials at Budgam railway station revealed that all the trains running from and to Budgam were run on scheduled time since early morning on Monday. They said all the trains scheduled to and from Baramulla were also run on time after four consecutive days of suspension. The officials said the trains scheduled from and towards Qazigund were run as per schedu
> Srinagar airport being readied for night landing facilities
> BJP not ready to listen to reason on J&K: Farooq
> Jaitley undergoes successful kidney transplant at AIIMS
> Faiz’s daughter slams India
> Smriti loses I&B to her Deputy; Goyal gets Finance
Other Stories from Web  
Find us on
Weather Report
Shridev Sharma
Mata Vaishnodevi | Matavaishnodevi | Mata Vaishno Devi
Electric Blanket | Electric Bed Warmers | Electric Under Blankets | Electric Heating Blanket
Web Design Jammu, Web Design Company, Ideogram Jammu
Home | Contact Us | Kashmir Times | Kashmir Times E-Paper - Jammu | Kashmir Times E-Paper - Srinagar | Dainik Kashmir Times | Jammu Prabhat
Copyright 2013 Kashmir Times Group. All rights reserved. Powered by Ideogram Technology Solutions Pvt. Ltd.