Rediff Logo
Money
Line
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women
Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel
Line
Home > Money > Business Headlines > Report
July 4, 2001
Feedback  
  Money Matters

 -  Business Special
 -  Business Headlines
 -  Corporate Headlines
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      



 
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page

UTI Bank offers credit to US-64 investors

G Singa Rao

The UTI Bank will provide loans to holders of Unit Trust of India's US-64 scheme, up to 60 per cent of the face value of the unit, that is, Rs 10.

Confirming this, a UTI official said, " Though it is not official, to those who urgently need money, we are marking the line on their holdings in favour of UTI Bank. They can take the loan on the next day."

The official said that some other banks have also come forward to provide loans against US-64 units but they are giving up to 50 per cent only.

UTI has taken up an exercise of explaining to investors the circumstances under which the decision to suspend the sale and repurchase of US-64 scheme for six months was taken.

Officers at the UTI branches are personally making calls to large investors with an investment of more than Rs 1 million in the scheme. UTI has also called for a meeting of top agents at the branch level who in turn will talk to investors and convince them.

Powered by

YOU MAY ALSO WANT TO READ:
UTI suspends US-64 for 6 months; reserves may turn negative
UTI payout freeze to be scrutinised, says Sinha
UTI says US-64 fund payout may begin sooner
Reserve fund to be tapped to bring US-64 back to life
UTI chairman resigns
Vassal to take charge at UTI; PSS's resignation accepted
UTI plans block sale of corporate investments

YOU MAY ALSO WANT TO READ:
The Rediff-Business Standard Special
The Budget 2001-2002 Special
Money
Business News

Tell us what you think of this report