Uti Setting Up Rs 100 Crore Single-Window Database

Access to four crore unitholder accounts of the Unit Trust of India (UTI) will soon become easy, thanks to a Rs 100 crore investor-friendly, single-window database system being set up by the institution.

Towards this, the UTI has consolidated investor data for its flagship scheme Unit-64 from its 54 branches across the country.

The institution has spent Rs 50 crore for creating a data centre at Belapur in Navi Mumbai in this regard.

The data migration activity, claimed by institutional officials as being one of the largest in the world, is currently going on at full tilt.

Trial runs of the data on US-64 data was successfully conducted at the data centre. B S Pandit, executive director in-charge of the data network of UTI, said the single-window system will be in place by the end of June 2002.

The UTI has received approval from Department of Telecommunication (DoT) for a leased line and ISDN lines for connecting all branch offices, zonal offices and corporate offices.

The state-of-the-art systems facilitate access to data located at Belapur from any regional office of the UTI in the country.

Through the single window data system, the unitholders of UTI can get information on his/her holdings in various UTI schemes, irrespective of which centre they have invested in.

Currently, the UTI has a distributed database system under which investors have to go specific branches to get information on his or her holdings in various schemes.

After the successful implementation of data systems, the UTI is planning to provide its investors the window to buy and sell units through the Internet. For this, the institution is planning to provide Tpin/Ipin number to its unitholders.