Delhi: The government has held a meeting with the
LIC, SBI, Punjab National Bank, and Bank of Baroda, the
four institutional sponsors of the UTI Mutual Fund, in
order to arrive at a new ownership pattern for the country's
oldest mutual fund.
to reports, the meeting was called primarily to assess
the price that each of the sponsors would be willing to
offer to take up the sole responsibility of running the
no details of the discussions were forthcoming. "It
was only a preliminary meeting. Nothing has been decided,"
said A K Shukla, Chairman, LIC told reporters.
Jha, secretary (economic affairs), U K Sinha, joint secretary
(capital markets), A K Purwar, chairman, SBI, A K Khandelwal,
CMD, Bank of Baroda, and C.P. Swarnkar, executive director
of PNB attended the meeting.