Unit Trust of India: Objectives, Functions and Schemes!
Unit Trust of India (UTI) is a statutory public sector investment institution which was set up in February 1964 under the Unit Trust of India Act, 1963.
UTI began operations in July 1964. It provides opportunity for small-savers to invest in areas where their risk is diversified.
The Unit-holders, if necessary, can sell their units to UTI at the prices determined by UTI. One of the attractions is that the investment in UTI has an income-tax rebate and the income from the UTI is exempted; from income-tax subject to certain limits.