MONEY & BANKING
Act like a mutual fund
Possibly, the one big mistake UTI has done is to have given the idea of guarantee of returns, which is not the business of a mutual fund. The investor should not disown knowledge that he participates in profit or loss.
The Government is reported to be feeling that the absence of its nominee on the UTI Board of Directors was one of the reasons for the mess in the institution. This is amusing. The seeds of the current crisis were sown about a decade ago when there was a
Government representative on the Board.
The report on the National Seminar on Energy Conservation for Profitability points out how uneconomic and detrimental ``Energy consumption `draining resources''' (Business Line, July 14) are to Indian industry and its profitability. Energy conservation i
s not only essential in industry, but in all sectors. It could even be applied to the construction industry. Despite all the discussions, we have not been able to eliminate transmission losses, pilferage, etc, which account for considerable losses in ene
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