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Stamp issue to mark UTI’s Golden Jubilee Year

Stamp issue to mark UTI’s Golden Jubilee Year
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According to info got by StampNews.com India Post to mark UTI’s Golden Jubilee Year, the Hon'ble Minister of Communications and Information Technology, released a Commemorative Stamp on 12th November, 2014. Ms Anjali Devasher, Member PLI, Postal Services Board, Department of Posts and Mr Leo Puri, Managing Director, UTI AMC were present on the occasion.

Commemorative Stamp on UTI was set up by the Reserve Bank of India (RBI) and functioned under its Regulatory and administrative control. It commenced its operations from 1st February, 1964 with the objective of mobilizing savings of the community and providing the small investors with a means of acquiring a stake in the industrial growth of the country.

The first scheme launched by UTI was Unit Scheme 64. 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 is one of the largest mutual funds in India with investor accounts of 9.58 million under its 128 domestic schemes / plans as on September 30, 2014.

On 1st February, 2014, UTI completed 50 years of its glorious journey in pioneering wealth creation. 50 years marks a major milestone in the history of UTI and its eventful journey over the past 5 decades has been chronicled in UTI's Coffee Table Book which was unveiled on 2nd February, 2014.

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