The Centre is expected to announce a financial restructuring package for the Unit Trust of India tomorrow. According to finance ministry sources, the package does not include a financial bailout, but the government will compensate UTI for the difference between the net asset value and the administered price at which the US-64 units were redeemed since August 2, 2001.
The amount to meet the difference between January and March is around Rs 200 crore. With this, the Centre will make good the burden borne by UTI in redeeming units under the special dispensation for small investors.
Immediately after the Centre