Financial Daily
from THE HINDU group of publications

Monday, July 30, 2001





Mutual Funds
UTI shake-out
The UTI, the oldest public sector mutual fund, was started by T. T. Krishnamachari to inculcate the habit of saving in the people. Since it was a monopoly, it could play with public money. However, when private sector mutual funds entered the market, the UTI was in trouble. Private MFs gave their clients many benefits. However, the premier mutual fund in India, could not. This indicates rank mismanagement and corruption. Though the UTI has many schemes, how many are working well?

Scams unlimited
This refers to the editorial `Scams unlimited' (Business Line, July 27). Perhaps the Finance Minister would like to respond to some of the following queries:

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