Opinion - Letters to the Editor

A rude shock

Sir, — The announcement by the Unit Trust of India that no dividend is possible for its flagship scheme US-64 for the year ending June 30, 2002, has come as a rude shock to the investors. This hurts small investors and senior citizens. The reasons given by the UTI are of no consolation. Investors simply look forward to some return on their investments at the end of the year.

It is suggested that a maximum upper limit of an investment of Rs. 3 lakhs be considered for payment of a minimal dividend equivalent to the interest being allowed in the case of one year fixed deposits in any nationalised bank.

C. Shankar,

Bangalore

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