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Experts' group to advise UTI on US-64 revamp

Our Bureau

MUMBAI, July 10

THE Unit Trust of India (UTI) has set up a consultative group comprising outside experts to revamp Unit Scheme-1964 (US-64), which is expected to submit its report to the UTI board within a couple of days.

The members of the group are Mr Y.H. Malegam, chartered accountant, Dr R.H. Patil, former Managing Director of the NSE, and Mr N.A. Soonawala, non-executive director, Tata Sons. Mr. R.P. Chitale, a trustee of UTI, has also been invited to join the group.

The group is expected to advise and provide an external perspective to the board on revamping the US-64, a UTI press release said.

The decision to set up the group was taken by UTI board which met yesterday to discuss a package to bail out small investors to US-64 scheme.

According to UTI, the group commenced deliberations today and is expected to submit its the report to the board in a couple of days.

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