Uti Working On 3-Pronged Plan To Tide Over Crisis

Unit Trust of India (UTI) is working on a three-pronged plan which includes transfer of blue-chip holdings to Life Insurance Corporation of India on requirement, giving promoters the first right to buy back good but illiquid stocks of their own companies and open market sale of shares of firms with underperforming managements even at the risk of destabilising them.

In an exclusive interview with Business Standard, UTI chairman M Damodaran said the first two steps were parts of its flagship fund US-64