Business Daily from THE HINDU group of publications
Tuesday, Jun 10, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Jun 10, 2008 ePaper | Mobile/PDA Version | Audio |
|
|
|
|
|
|
|
Markets
-
Mutual Funds States - Other States Our Bureau Mumbai, June 9 UTI Mutual Fund will be managing the funds under the Bihar Government’s welfare scheme for girl child. The scheme, called the Mukhya Mantri Kanya Suraksha Yojana, was launched by the State Government with the objective of checking female foeticide, improving the sex ratio and encouraging registration of birth. UTI MF said it has signed a tripartite agreement with the Bihar Government and Women Development Corporation of Bihar. Under the scheme, the State Government will contribute Rs 2,000 for every girl child born on or after November 22, 2007 in below poverty line families. The amount will be invested by Women Development Corporation of Bihar, in UTI Children’s Career Balanced Plan Growth Option. The benefits of the yojana will be limited to two girls per family falling below the poverty line. On completion of 18 years, the amount equal to the maturity value will be paid to the girl child, said a UTI press release. In case of death of the girl child during the intervening period, the amount will be paid back to the Women Development Corporation, the release added. UTI Children’s Career Balanced Plan, launched in July 1993 as an open-end plan, currently has a corpus of Rs 2,600 crore. Funds collected under this scheme are invested in equities, debentures and bonds of companies and other money market instruments. The scheme has an asset allocation limit of minimum 60 per cent in debt and maximum 40 per cent in equities and related instruments. UTI is already operating a similar plan for the Rajasthan Government, but the terms and conditions are different, said a UTI official. The State Government has invested Rs 3 crore More Stories on : Mutual Funds | Social Welfare | Gender | Other States
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|