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Wednesday, July 11, 2001



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Make US-64 dealings NAV-driven: Chamber

Our Bureau

NEW DELHI, July 10

THE Associated Chambers of Commerce and Industry of India (Assocham) has urged the Government and the Unit Trust of India (UTI) authorities to facilitate net asset value (NAV)-based dealings in the US-64 scheme at the earliest.

In a statement, the chamber said that ``it is high time that the move should be made in this direction''.

According to Assocham, NAV-based dealings would ease the ``perceived pressure'' on liquidity. The chamber pointed out that the Parekh Committee had already recommended that "eventually the US-64 scheme has to be NAV-driven''.

To specifically address the issue of liquidity crunch, the chamber suggested that banks and financial institutions can provide loans to UTI against shares.

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