Centre gives Rs. 400 cr. to UTI for MIP scheme

MUMBAI OCT. 31. The Centre has provided assistance of about Rs. 400 crores to the Unit Trust of India to meet its payment obligations to investors of the Monthly Income Scheme (MIP) 1997-IV, which matured today.

The total outgo on meeting the obligations was Rs. 1,194 crores and as per the package cleared on August 31 and the commitment to give funds for securities, which could not be liquidated, "we have got assistance,'' UTI sources said. — PTI

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