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July 9, 2001 		Feedback  
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Govt planning to amend UTI Act, says Sinha

Union Finance Minister Yashwant Sinha said on Monday that the central government was looking into amending the Act governing the country's largest mutual fund manager, Unit Trust of India.

"The government is engaged in the task of amending the UTI Act," Sinha told reporters.

Last week, state-run UTI froze redemptions in US-64 fund units after a huge jump in withdrawals in April and May.

US-64 is its flagship scheme, with about 20 million unit holders and accounts for more than a fifth of UTI's total assets.

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