The Department of Posts (DOP) joined hands with the Unit Trust of India (UTI) in distributing various Mutual Fund Schemes of UTI through its 50 post offices located across the country. To begin with, the DOP has launched five schemes of UTI namely UTI Mastershare Unit Scheme, UTI Unit Linked Insurance Plan, UIT Children’s career Plan, UTI Mahila Unit Scheme and UTI Variable Investment Scheme.
A Memorandum of Agreement to this effect was signed between India Post and UTI Mutual Fund by Shri Vijay Bhushan, Secretary, Department of Posts and Shri M. Damodaran, CMD UTI, in the presence of Union Minister of Finance, Shri P. Chidambaram and Minister of Communications & Information Technology, Shri Dayanidhi Maran at a function held here today.
Speaking on the occasion, Shri Dayanidhi Maran said that the Department of Posts could effectively handle the mutual fund matters through out the country with the strength of its unique position to provide financial retail network. He further said that the present network of 50 post offices would be expanded in due course of time, wherever it is felt commercially viable. The Union Finance Minister Shri Chidambaram emphasised the need to adopt innovative practices and new ways so as to serve the people of the country better. He said that the Department of Posts is one of the oldest organisation in the country and it has unparalleled reach, range and ability to deliver the goods to the average common citizen in any part of the country. Such ability is matched by only few organisations/departments of the Government of India. With the signing of the present Agreement, the average common citizen will get better services, he hoped.
The five schemes of UTI will be introduced in selective post offices spreading over in 17 Postal Circles of Andhra Pradesh, Bihar, Chhatisagarh, Delhi, Gujarat, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttaranchal and West Bengal.
(Release ID :3844)