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Monday, Sep 09, 2002

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UTI clarifies

This refers to the `Offhand' column, `Fossilised professionals' (Business Line, September 6):

The UTI would like to clarify that UTI Bank Ltd. is a private sector bank that operates independently and has its own board which takes decisions on all issues connected with the bank. The bank functions independently, under the regulatory framework of Reserve Bank of India. The UTI and UTI Bank are two different entities working independently.

K. Madhava Kumar

President

Unit Trust of India

Mumbai

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