The UTI (Specified Undertaking) advisory board may foreclose six assured-return schemes by offering investors the choice of receiving cash or subscribing to tax-free bonds similar to those for the US-64 scheme.
The UTI advisory board, chaired by M Damodaran, met here on Tuesday to discuss the course of action for all the 17 assured-return schemes, with a total unit capital of about Rs 20,000 crore, under UTI-I, senior government officials told Business Standard.