The government has decided to provide another Rs 500 crore to the troubled Unit Trust of India (UTI) for its flagship US-64 scheme. UTI had sought a Rs 5,000 crore package for bailing out US-64.
UTI chairman M Damodaran had a three-hour meeting with senior finance ministry officials, including finance secretary S Narayan, additional secretary (budget) D Swaroop and joint secretary (capital markets) U K Sinha.
Finance ministry officials said the support would be in addition to the Rs 500 crore recently provided to the fund in the first supplementary demand for grants.