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June 28th, 2016, 12:50 PM
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Join Date: Mar 2012
Structure of Unit Trust of India

Hi I am interested in having the details of the functions as well as the objectives and the Organisation and Management of the Unit Trust of India (UTI)?

Unit Trust of India (UTI) is a statutory open segment speculation establishment which was set up in February 1964 under the Unit Trust of India Act, 1963.

UTI started operations in July 1964. It gives chance to little savers to put resources into ranges where their danger is broadened.

The Unit-holders, if fundamental, can offer their units to UTI at the costs dictated by UTI. One of the attractions is that the interest in UTI has a salary charge refund and the pay from the UTI is exempted; from wage charge subject as far as possible.

Targets:

The essential targets of the UTI are:

(i) To support and pool the investment funds of the center and low wage bunches.

(ii) To empower them to share the advantages and success of the modern improvement in the nation.

Association and Management:

UTI was set up with an underlying capital of Rs. 5 crore, contributed by the RBI, LIC, SBI and its backups and booked banks and money related foundations. The underlying capital of Rs. 5 crore was separated into 1,000 endorsements of Rs. 50,000 each. To supplement its budgetary assets, the trust can get from the Reserve Bank of India, the sum being repayable on interest' or inside a time of year and a half.

UTI is overseen by a Board of Trustees, comprising of an executive and four individuals designated by Reserve Bank of India, one part assigned by LIC, one part named by the State Bank of India, and two individuals chose by the contributing foundations.

Elements of UTI:

The UTI capacities are examined beneath:

(i) To acknowledge rebate, buy or offer bills of trade, promissory note, bill of filling, stockroom receipt, records of title to products and so on.,

(ii) To concede credits and advances.

(iii) To give trader keeping money and venture admonitory administration.

(iv) To give renting and contract buy business.

(v) To stretch out portfolio administration to persons dwelling outside India.

(vi) To purchase or offer or arrangement in remote trade dealings.

(vii) To define unit plan or protection arrangement in relationship with or as specialist of GIC.

(viii) To put resources into any security coasted by the Central Government, RBI or remote bank.

Activities of UTI:

The UTI can offer and buy the units issued by it, contributing, get, hold or arrange off securities. Keep cash on store with the booked banks and attempt related capacities accidental or noteworthy to that. Every one of the units issued by the UTI are of the estimation of Rs. 10 each. These units were put at a bargain at face esteem and from there on at costs altered day by day by the UTI. Units can be bought in ten or products of ten.

Last edited by Neelurk; June 6th, 2020 at 05:16 PM.
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