Successful Completion of One Year of Mukhya Mantri Kanya Suraksha Yojana

To celebrate the success of “Mukhya Mantri Kanya Suraksha Yojana”, an innovative and path breaking scheme of the Government of Bihar, a function was organised today, October 14, 2009 at Shri Krishna Memorial Hall, Patna, which was graced by Shri Nitish Kumar, Hon’ble Chief Minister of Bihar as the Chief Guest.

During the function top performing Anganbari Sewikas and the other Officials directly associated with the scheme were given awards.

Mukhya Mantri Kanya Suraksha Yojana was launched by Government of Bihar, a year back, with the objective to ensure the rightful place of pride in the society for a girl child, her safety and security, improve the sex ratio and to encourage registration of birth.

Under the Mukhya Mantri Kanya Suraksha Yojana, Government of Bihar contributes Rs.2000/- for every Girl Child falling below the poverty line born on or after November 22, 2007. The benefits of the Yojana are limited to two girls per family falling below the poverty line. The amount of Rs.2000/- is invested by Women Development Corporation, Patna, Bihar on behalf Government of Bihar in UTI-Children’s Career Balanced Plan-Growth Option. On completion of 18 years the amount equal to the maturity value will be paid to the girl child. Incase of death of girl child during the intervening period the amount will be paid back to Women Development Corporation, Patna, Bihar.

During the last one year, Mukhya Mantri Kanya Suraksha Yojana of Government of Bihar has benefitted around 3 lakh girl children born in families living below the poverty line.

Shri U K Sinha, Chairman and Managing Director, UTI AMC said, “I compliment the Hon’ble Chief Minister of Bihar, Shri Nitish Kumar for conceptualizing and making the scheme for the benefit of girl children born in families living below poverty line such a success in the first year itself. Within a year it has become the largest scheme of its kind in the country.”

“It is our privilege to be entrusted with the task of managing the investments made under the Mukhya Mantri Kanya Suraksha Yojana.” Shri Sinha added

UTI Children’s Career Balanced Plan
UTI Children’s Career Balanced Plan was launched in July 1993 as an open-ended Plan. Under the Plan, investment can be made in the name of children so as to provide them after they attain the age of 18 years a means to meet the cost of higher education or any other social obligation.

Fund collected under UTI Children’s Career Balanced Plan are invested in equities, debentures/bonds of companies and other money market instruments The scheme has an asset allocation limit of minimum 60% in debt and maximum 40% in equities/equity related instruments.

About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of   Baroda   and Life Insurance Corporation of India.

UTI Mutual Fund has assets under management (average) of Rs.73588.80 crore and investor accounts of over 9.80 million under its 76 domestic schemes (as of September 30, 2009).