Unit Trust of India (UTI) has put in place a structured mechanism and a board level seat for a government nominee to ensure that any communication gap with the ministry of finance is eliminated.
The new reporting and communication structure comes in the wake of the sacking of former UTI chairman MS Subramanyam amidst allegations that he had not kept the finance ministry adequately informed of major developments. Correspon-ding changes in fund management have been implemented.
In an exclusive interview to Business Standard, UTI chairman M Damodaran pointed out,