UTI was bifurcated into UTI-I consisting of US-64 and other assured return related schemes and UTI-II, which consisted of other Net Asset Value (NAV) based schemes until recently. The government finally announced the sale of UTI Asset Management Company to State Bank of India, Bank of Baroda, Punjab National Bank and Life Insurance Corporation at a value of Rs 12.37 billion.
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Source :- IIPM Editorial, 2006
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