Objectives Of Unit Trust Of India

I want to know the objective and the functions of Unit Trust of India (UTI) so can you please tell me?

[sumit]

Unit Trust of India (UTI) is a statutory public sector investment institution established in on 1st February, 1964 under the Unit Trust of India Act, 1963.

It provides opportunity for small-savers to invest in areas where their risk is diversified.

Objectives:

The primary aim of the UTI are:

To promote and pool the savings of the middle and low income groups.

To enable them to share the benefits and prosperity of the industrial development in the country.

Functions

The main functions of UTI are as follows:

To sell units to investors in different parts of the country

To covert the small savings into industrial finance

To encourage savings of lower and middle-class people

To give them an opportunity to share the benefits and fruits of industrialization in the country

To provide liquidity to units

Schemes of UTI:

The familiar schemes of UTI are given below:

(i) Unit scheme—1964.

(ii) Unit Linked Insurance Plan—1971.

(iii) Children Gift Growth Fund Unit Scheme—1986.

(iv) Rajyalakhmi Unit Scheme—1992.

(v) Senior Citizen’s Unit Plan—1993.

(vi) Monthly Income Unit Scheme.

(vii) Master Equity Plan—1995.

(viii) Money Market Mutual Fund—1997.

(ix) UTI Growth Sector Fund—1999.

(x) Growth and Income Unit Schemes.

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