20 years ago today

Twenty years ago today: July 15

July 16 | Updated on July 15, 2021

US-64 exit level set at 3,000 units

The Unit Trust of India today decided to give an exit route to small investors holding up to 3,000 units of the Unit Scheme-64 (US-64). It has also decided to make the scheme NAV- based from January 1, 2002. As per the relief scheme announced today, all investors holding up to 3,000 units of US-64 scheme as on June 30, 2001 can avail themselves of repurchase facility from August 1, 2001 to May 31, 2003. Repurchase price in August will be at the face value of Rs 10 per unit.

Damodaran new UTI chief

The Government today appointed Mr M. Damodaran, an IAS officer who is now Officer on Special Duty in the Reserve Bank of India, New Delhi, as the new Chairman of Unit Trust of India. Mr Damodaran, whose appointment is for one year, left for Mumbai to take part in today's board meeting, shortly after the appointment was cleared on Sunday morning. The decision to appoint Mr Damodaran was taken by the Government over a week ago. Considering the state of affairs in UTI, it was imperative that a new Chairman was in place swiftly, a senior Government official said.

‘Positive movement’ in Indo-Pak talks

Daytime deliberations at the historic summit meeting between the Prime Minister, Mr Atal Bihari Vajpayee, and the visiting Pakistan President, General Pervez Musharraf, produced a rather guarded statement from the Ministry of External Affairs at 4.30 this evening. The two leaders were then scheduled to meet for a further round of sequestered discussions with parallel deliberations taking place at the ministerial and official levels. Both sides are reluctant to reveal the details of the discussions.

Published on July 15, 2021

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