#1
September 1st, 2016, 12:27 PM
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Unit Trust Of India Definition
I want to know the definition of Unit Trust of India UTI so can you please tell me? Also provide me the details regarding this?
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#2
September 1st, 2016, 02:36 PM
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Re: Unit Trust Of India Definition
Unit Trust of India is a financial organization in India, established by the UTI Act passed by the Parliament of India on December 30, 1963. Functions of UTI: To grant loans and advances To provide merchant banking and investment advisory service To accept discount, purchase or sell bills of exchange, promissory note, bill of lading, warehouse receipt, documents of title to goods etc., To provide leasing and hire purchase business. To buy or sell or deal in foreign exchange dealings. To extend portfolio management service to persons residing outside India. To invest in any security floated by the Central Government, RBI or foreign bank To formulate unit scheme or insurance plan in association with or as agent of GIC Schemes of UTI: The familiar schemes of UTI are given below: (i) Unit scheme—1964. (ii) Unit Linked Insurance Plan—1971. (iii) Children Gift Growth Fund Unit Scheme—1986. (iv) Rajyalakhmi Unit Scheme—1992. (v) Senior Citizen’s Unit Plan—1993. (vi) Monthly Income Unit Scheme. (vii) Master Equity Plan—1995. (viii) Money Market Mutual Fund—1997. (ix) UTI Growth Sector Fund—1999. (x) Growth and Income Unit Schemes. Contact- UTI Tower, 'GN' Block, Bandra Kurla Complex Bandra (E), Mumbai - 400051. Toll Free: 1800 22 1230 Call toll free on 1800 22 1230 - Toll Free |