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July 14, 2001
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Money > Business Headlines > Report July 14, 2001 |
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Damodaran appointed UTI chairmanM Damodaran, officer on special duty in the Reserve Bank of India, has been appointed as chairman of the Unit Trust of India, which was caught in a muddle after the freeze of its flagship scheme US64 for six months from July 2. An IAS officer, Damodaran, who was earlier joint secretary in the banking division, has been appointed for a period of one year initially, senior finance ministry official J Bhagawati said. Domodaran takes over from K G Vassal, who was appointed acting chairman after P S Subramanyam was asked to quit on July 4 in the face of the UTI crisis. Finance Minister Yashwant Sinha had announced last week that UTI would soon have a new chairman. Meanwhile, the UTI board met Saturday in Mumbai to chalk out an exit route for US-64 unit holders, which remained "inconclusive". The board wanted to gather more information to "refine the package", UTI said in a press release after a three-hour meeting. PTI |
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