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August 8th, 2016, 08:20 AM
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Join Date: Mar 2012
Functions and Operations of Unit Trust of India

Can you tell me about the Functions and Operations of Unit Trust of India (UTI)? Also provide me the contact detail and contact number of Unit Trust of India?

Unit Trust of India (UTI) is a statutory public sector investment institution set up in 1964 under the Unit Trust of India Act, 1963.

It began operations in 1964 and provides opportunity for small-savers to invest in areas where the risk is diversified.

The primary objectives of the UTI are:

(i) To encourage and pool the savings of the middle and low income groups.
(ii) To enable them to share the benefits and prosperity of the industrial development in India.

Functions of UTI:


(i) To accept discount, purchase or sell bills of exchange, promissory note, bill of lading, warehouse receipt, documents of title to goods etc.,

(ii) To grant loans and advances.

(iii) To provide merchant banking and investment advisory service.

(iv) To provide leasing and hire purchase business.

(v) To extend portfolio management service to persons residing outside India.

(vi) To buy or sell or deal in foreign exchange dealings.

(vii) To formulate unit scheme or insurance plan in association with or as agent of GIC.

(viii) To invest in any security floated by the Central Government, RBI or foreign bank.

Activities of UTI:

It sells and purchase the units issued by it, investing, acquire, hold or dispose off securities.

Keep money on deposit with the scheduled banks and undertake related functions incidental or consequential to that.

All the units issued by it are of the value of Rs. 10 each. These units were put on sale at face value and thereafter at prices fixed daily by the UTI. Units are purchased in ten or multiples of ten.

Contact Detail:
UTI Mutual Funds
New Leela Bhawan, Patiala, Punjab 147001, India
+91 1800 22 1230

Last edited by Neelurk; April 2nd, 2020 at 10:08 AM.
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