The Unit Trust of India formed under UTI Act, 1963 - R S Bhatt appointed Chairman of the trust

The Unit Trust of India, formed under the Unit Trust of India Act, 1963, has been set up in Bombay with effect from February 1. Mr. R. S. Bhatt has been appointed chairman of the trust and Mr. V. G. Pendharkar, Economic Adviser to the Reserve Bank of India, as Executive Trustee. Besides the chairman and the executive trustee, the Board of Trustees of the Unit Trust comprises representatives from various financial institutions, including the Reserve Bank of India, Life Insurance Corporation of India, and the State Bank of India. Other members include executives from Greaves Cotton & Co. Ltd., Andrew Yule & Co., Industrial Credit and Investment Corporation of India, and Punjab National Bank.

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